Deals & funding29 Sep 2026 · Mon
IRFCIndian Railway Finance Corporation
IRFC signs ₹4,200 crore loan with DVC for solar and battery storage projects
Indian Railway Finance Corporation agreed to lend ₹4,200 crore to Damodar Valley Corporation for solar and battery storage projects in Jharkhand and West Bengal.
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Last 5 days
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- Sector
- Financial services
What happened
- IRFC signed a ₹4,200 crore term loan agreement with state-owned Damodar Valley Corporation (DVC) in New Delhi.
- The money will fund floating, ground-mounted and rooftop solar plants and battery energy storage systems in Jharkhand and West Bengal.
- IRFC chairman Manoj Kumar Dubey described it as part of the company's move to lend beyond railway projects.
Why it matters
IRFC's main business is financing rolling stock and projects for Indian Railways. Loans to power and other infrastructure companies widen that base.
Key facts
- Loan
- ₹4,200 crore
- Borrower
- Damodar Valley Corporation
- Projects
- Solar and battery storage, Jharkhand and West Bengal
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