IRFC signs Rs 4,200 crore loan agreement with DVC
Indian Railway Finance Corporation Limited (IRFC), a Navratna Central Public Sector Enterprise under the Ministry of Railways, has taken another significant step in its strategic expansion and diversification with the signing of an Rs 4,200 crore term loan agreement with Damodar Valley Corporation (DVC) to finance its renewable energy projects across Jharkhand and West Bengal.
The transaction marks an important milestone in IRFC’s evolving role as a diversified infrastructure financier, extending its established long-term financing capabilities to the clean energy ecosystem while remaining closely aligned with the broader railway ecosystem. The loan agreement was signed in New Delhi in the presence of senior officials of IRFC and DVC, led from DVC by Manish Kumar, Member (Finance), DVC, and Manoj Kumar Dubey, Chairman & Managing Director, IRFC.
The financing will support DVC’s portfolio of floating solar, ground-mounted solar, rooftop solar and Battery Energy Storage System (BESS) projects, leveraging its existing land, reservoirs and transmission infrastructure.
IRFC CMD, Dubey, said, “Renewable energy is no longer peripheral to the Railways; it is at the core of Indian Railways’ journey towards Net Zero Carbon Emissions by 2030. Through this Rs 4,200 crore financing to DVC, IRFC is extending its long-term financing capability to the clean energy infrastructure that will power India’s future. 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.”
“This partnership with DVC demonstrates how IRFC can bring long-term capital to renewable energy infrastructure that supports the Railways’ growing energy requirements while contributing to a greener, more sustainable and future-ready India,” Dubey added.
The transaction thus 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 DVC transaction marks another important step in IRFC’s calibrated diversification into strategic railway-linked infrastructure sectors, building on its established strength in providing long-term financing.
IRFC’s expanding financing portfolio includes sectors such as renewable energy, power, metro rail, logistics and other infrastructure with strong linkages to national development priorities.
The transaction demonstrates IRFC’s ability to mobilise long-term capital for nationally important railway-linked infrastructure, bringing together its core financing strengths with emerging requirements in clean energy and sustainable infrastructure.
