The funding will support DVC’s portfolio of floating solar, ground-mounted solar, rooftop solar and Battery Energy Storage System (BESS) projects.
The projects will make use of DVC’s existing land, reservoirs and transmission infrastructure.
IRFC said the deal marks an expansion of its long-term financing business into clean energy infrastructure while remaining linked to the broader railway ecosystem.
IRFC Chairman and Managing Director Manoj Kumar Dubey said renewable energy is central to Indian Railways’ goal of achieving Net Zero Carbon Emissions by 2030.
The company said the DVC deal is part of its gradual expansion into infrastructure sectors linked to the railway ecosystem and national development priorities. Its financing portfolio now also includes renewable energy, power, metro rail and logistics.
IRFC had earlier signed a ₹13,527 crore term loan agreement with L&T Metro Rail (Hyderabad) to refinance the debt of the Hyderabad Metro project.IRFC shares closed at ₹78.55 on the NSE on September 28, down ₹1.40, or 1.75%, from the previous close.
Also Read: IRFC forays into urban infra financing with a ₹13,527 crore Hyderabad Metro deal