New Delhi: IREDA Global Green Energy Finance IFSC Limited (IGGEFIL), a wholly owned subsidiary of Indian Renewable Energy Development Agency Limited (IREDA), has received its first-ever international credit rating from CareEdge Global Ratings. The company was assigned a Long-Term Foreign Currency Issuer Rating of ‘BBB+/Stable’, aligning with India’s sovereign rating.
This milestone strengthens IGGEFIL’s position in global financial markets and reinforces its role as a key facilitator of renewable energy financing both domestically and internationally.
Strengthening Global Financing Strategy
The ‘BBB+/Stable’ rating reflects IGGEFIL’s strong institutional linkage with IREDA and underscores its strategic importance in promoting renewable energy projects. With this rating, IGGEFIL is expected to:
- Expand access to international capital markets
- Diversify funding sources for clean energy projects
- Potentially reduce borrowing costs, enabling more competitive financing
- Enhance investor confidence in India’s renewable energy sector
Shri Pradip Kumar Das, Chairman of IGGEFIL and CMD of IREDA, stated, “This rating strengthens our global strategy and enhances our ability to mobilize international funds for clean energy projects, supporting India’s renewable energy goals.”
Read also: IREDA Secures JPY 28 Billion ECB Facility from Sumitomo Mitsui to Boost Renewable Energy Financing
Role in Renewable Energy Financing
IGGEFIL operates under the International Financial Services Centre (IFSC) framework, enabling it to channel international financing into India’s green energy infrastructure. The rating positions the company to play a pivotal role in bridging funding gaps and facilitating large-scale renewable energy projects with global investors.
The entity’s robust credit profile, backed by its parent IREDA, ensures reliability and confidence among lenders and financial partners, strengthening India’s clean energy financing ecosystem.
About IREDA
Indian Renewable Energy Development Agency Limited (IREDA) is a government-owned financial institution focused on promoting and financing renewable energy projects across India. Through its subsidiary IGGEFIL, IREDA aims to leverage international capital markets to support India’s transition to a sustainable and low-carbon energy future.
Read also: IREDA Celebrates 40 Years of Renewable Energy Financing, Eyes Global Green Energy Expansion
