IRFC had earlier secured a bid to provide a Rs. 75 billion (~$861 million) rupee term loan to NTPC Green Energy.
The Indian Railway Finance Corporation (IRFC), the financing arm of Indian Railways, has disbursed a Rs.10 billion (~$108.05 million) term loan to Maharashtra State Power Generation Company. The funds will be utilised to strengthen the utility’s operational capabilities.
Maharashtra State Power Generation Company currently has an installed power generation capacity of 13,880.55 MW, including 10,200 MW from thermal sources. The company has also partnered with SJVN Limited to develop 5 GW of renewable energy projects in Maharashtra, with an initial target of 735 MW. This phase includes the 125 MW Ghatghar Phase-2 pumped storage project, the 105 MW Irai floating solar project, and 505 MW of floating solar capacity across reservoirs.
In a separate development, Indian Railway Finance Corporation had earlier secured a bid to provide a Rs.75 billion (~$861 million) rupee term loan to NTPC Green Energy. The financier is increasingly exploring opportunities to support renewable energy initiatives, including those linked to Indian Railways and metro rail systems. It has also extended Rs.31 billion (~$35.58 million) to a thermal power subsidiary of NTPC Limited.
Additionally, IRFC has partnered with the Railway Energy Management Company to finance renewable energy projects to supply power to the railways.
Alongside commercial banks and government-backed institutions such as Power Finance Corporation, REC Limited, and Indian Renewable Energy Development Agency, IRFC continues to play a key role in funding India’s clean energy transition.
According to the National Council of Applied Economic Research, achieving India’s target of 500 GW of non-fossil fuel-based energy capacity by 2030 will require states to secure annual grants of Rs.140.64 billion (~$1.6 billion) over the next five years.
