IRFC signs INR 42 billion loan pact with Damodar Valley Corp for energy projects
This story was originally published at 20:28 IST on 28 September 2026
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--IRFC signs INR 42 bln term loan agreement with Damodar Valley Corp
--IRFC: Damodar Valley to use INR 42 bln loan for renewable energy projects
NEW DELHI – Indian Railway Finance Corp. Ltd. Monday signed a term loan agreement of INR 42 billion with Damodar Valley Corp Ltd. to finance its renewable energy projects across Jharkhand and West Bengal, the company said in a press release.
The loan agreement was signed in New Delhi in the presence of senior officials of IRFC and Damodar Valley Corp. "The financing will support DVC's (Damodar Valley Corp.'s) portfolio of floating solar, ground-mounted solar, rooftop solar and Battery Energy Storage System projects, leveraging its existing land, reservoirs and transmission infrastructure," it said.
The Navratna public-sector enterprise is allowed to finance projects that have forward or backward linkages with the railways. However, its lending to non-railway projects has so far remained limited. Through the term loan agreement, the company is increasing its presence in the non-railway sector.
"Through this Rs 4,200 crore (INR 42 billion) financing to DVC, IRFC is extending its long-term financing capability to the clean energy infrastructure that will power India's future," Manoj Kumar Dubey, the company's chairman and managing director, said. "This is IRFC 2.0 in action -- strategic diversification that remains firmly connected to the Railways ecosystem and to the nation's larger development priorities."
The transaction extends IRFC's financing capabilities into clean energy infrastructure that complements its core railway financing mandate while supporting the broader transition towards a sustainable energy ecosystem, the company said. The public-sector company had reported a net profit of INR 19.27 billion for the June quarter. Monday, its shares ended at INR 78.55 on the National Stock Exchange, down nearly 2% from Friday. End
Reported by Pratiksha
Edited by Himanshi Gupta
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