Borrowers seeking to avail of Indian Renewable Energy Development Agency’s (IREDA's) Renewable Energy Financing Scheme must obtain a credit grading from select external credit rating agencies prior to applying for credit.
An 'IREDA Credit Rating Model for Renewable Energy Financing' has been developed in co-ordination with CRISIL Ratings and other credit rating agencies. This model allows for assessment of relevant parameters and criteria whilst ensuring consistency and objectivity in evaluation.
Prospective borrowers/customers required to obtain an external credit rating should pay fees to the credit rating agencies directly.
Note: Reduction in interest rates will be provided over and above the applicable interest rates by 25 bps, 20 bps and 15 bps respectively for borrowers graded Grade-I, Grade-II and Grade-III (irrespective of IREDA's internal grading). You can view details on interest rates.