Archive · 29 Sep 2026
IRFC Signs Rs 4,200 Crore DVC Loan for Renewable Projects
Indian Railway Finance Corporation, or IRFC, has agreed to provide a Rs 4,200 crore loan to Damodar Valley Corporation, or DVC.
The money will help build different kinds of solar power projects.
It will also support batteries that can store electricity.
The projects are planned for Jharkhand and West Bengal.
DVC plans to use land, reservoirs and power lines it already has.
IRFC said the work supports Indian Railways’ goal of reaching net-zero carbon emissions by 2030.
The deal is part of IRFC’s plan to finance clean energy and other infrastructure in addition to railway projects.
A separate report said IRFC shares had fallen substantially over the year and in 2026.
Indian Railway Finance Corporation signed a Rs 4,200 crore term loan agreement with Damodar Valley Corporation.
The financing will support floating, ground-mounted and rooftop solar projects, along with Battery Energy Storage System facilities.
The projects will be developed across Jharkhand and West Bengal using DVC’s land, reservoirs and transmission infrastructure.
IRFC said the agreement supports Indian Railways’ target of achieving net-zero carbon emissions by 2030.
IRFC shares were reported down 37.55% in 2026 and 36.79% over the previous year as the company expands beyond railway financing.
- Who
- Indian Railway Finance Corporation and Damodar Valley Corporation, with Manoj Kumar Dubey and Manish Kumar representing the organisations at the signing.
- What
- A Rs 4,200 crore term loan to finance solar and battery energy storage projects.
- When
- The articles do not specify the agreement’s signing date; one report gives share-performance figures for 2026 and the previous year.
- Where
- The agreement was signed in New Delhi, while the projects will be developed across Jharkhand and West Bengal.
- Why
- To fund renewable energy infrastructure, support Indian Railways’ net-zero target and broaden IRFC’s financing beyond traditional railway projects.
- Loan amount
- Rs 4,200 crore
- Lender
- Indian Railway Finance Corporation (IRFC)
- Borrower
- Damodar Valley Corporation (DVC)
- Supported projects
- Floating solar, ground-mounted solar, rooftop solar and Battery Energy Storage System facilities
- Project locations
- Jharkhand and West Bengal
- Railway target
- Indian Railways’ net-zero carbon emissions target for 2030
- Share performance
- IRFC shares were reported down 37.55% in 2026 and 36.79% over the previous year
- Diversification areas
- Renewable energy, power, metro rail, logistics and other railway-linked infrastructure
