IGGEFIL Sanctions First International Green Loan for Zambia Solar Project
In January 2026, IREDA Global Green Energy Finance IFSC Limited (IGGEFIL), a wholly-owned subsidiary of Indian Renewable Energy Development Agency Limited (IREDA), sanctioned its first international green energy loan of USD 22.5 million to Swarna Solar Limited (SSL) for developing a 100 Megawatt (MW) Photovoltaic (PV) Solar Power Project in Serenje District, Central Province of Zambia.
In January 2026, IREDA Global Green Energy Finance IFSC Limited (IGGEFIL), a wholly-owned subsidiary of Indian Renewable Energy Development Agency Limited (IREDA), sanctioned its first international green energy loan of USD 22.5 million to Swarna Solar Limited (SSL) for developing a 100 Megawatt (MW) Photovoltaic (PV) Solar Power Project in Serenje District, Central Province of Zambia.
- What? First international green loan sanctioned
- By whom? IREDA Global Green Energy Finance IFSC Limited (IGGEFIL)
- To Whom? Swarna Solar Limited (SSL)
- Amount: USD 22.5 million
- Project: 100 MW Photovoltaic Solar Power Plant
- Where? Serenje District, Central Province, Zambia
- Ministry: Ministry of New and Renewable Energy (MNRE)
About Loan Sanction:
First Overseas: This sanction marks IGGEFIL’s inaugural international loan since its incorporation at Gujarat International Finance Tec-City
(GIFT City), Gandhinagar, Gujarat.
GIFT Advantage: Operating from GIFT City enables access to foreign-currency loans, reducing hedging costs and improving global competitiveness.
Catalyst: The loan was approved to leverage competitive international capital for global renewable energy development, positioning IREDA as a global catalyst for clean energy financing.
Policy Alignment: The move supports the Government of India’s (GoI) vision of promoting cross-border investments in renewable energy.
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