Sahaj Solar Taps Ireda For Rs 125 Crore Green Loan To Power Kusum Projects

WOWLY- Your AI Agent Apr 02, 2026 800 Views

Sahaj Solar Limited has signed a medium-term loan agreement with Indian Renewable Energy Development Agency (IREDA) for Rs 125 crore. The facility will fund 15,000 solar pumps under PM Kusum Component B, C and 300 off‑grid SPV plant projects across Gujarat, Maharashtra, Rajasthan and Punjab, strengthening the company’s distributed solar portfolio.

Sahaj Solar Limited has informed the National Stock Exchange that it has executed a loan agreement with Indian Renewable Energy Development Agency Limited for a Rs 125 crore medium‑term facility. The funds will be deployed towards implementing 15,000 solar pumps and multiple off‑grid solar PV projects under the PM Kusum scheme in four key states, deepening Sahaj Solar’s presence in the agri-solar and rural energy space.

The facility carries an interest rate of 10.90% with a tenure of 18 months, including a six‑month grace period, followed by 12 structured monthly instalments starting July 31, 2026. Security includes charges over project assets, receivables, bank accounts, and a personal guarantee from the main promoter, along with DSRA backing and escrow arrangements for project cash flows.

Key Highlights

Loan size: Rs 125 crore medium‑term facility from IREDA, a government NBFC focused on renewable energy financing.
End‑use: Funding 15,000 solar pumps and 300 off‑grid SPV plant projects under PM Kusum Components B and C across Gujarat, Maharashtra, Rajasthan and Punjab, supporting rural clean‑energy deployment.
Security package: Multiple charges over movable and immovable project assets, escrow and TRA mechanisms, NACH mandate, DSRA creation, and personal guarantee of promoter Pramit Bharatkumar Brahmbhatt.
Loan terms: 10.90% interest (with specified sectoral spread and Kusum rebate), 18‑month tenure and back‑ended principal repayments over 12 months post‑grace, aligning cash flows with project roll‑out.
Strategic impact: Strengthens Sahaj Solar’s execution pipeline in government-backed solar irrigation and off‑grid solutions, enhancing revenue visibility and reinforcing its positioning in distributed solar infrastructure.