IRFC Share Price in Focus; Signs ₹4,200 Crore Deal with DVC for Renewable Energy Projects

Indian Railway Finance Corporation (IRFC) has signed a ₹4,200 crore term loan agreement with Damodar Valley Corporation (DVC) for renewable energy projects in Jharkhand and West Bengal.  

According to the exchange filing, the agreement was signed in New Delhi on September 28, 2026, in the presence of officials from both companies.  

Solar Projects 

The loan will be used for DVC’s floating solar, ground-mounted solar, and rooftop solar projects. It will also cover the Battery Energy Storage System (BESS) projects. DVC will use its existing land, reservoirs, and transmission network for projects.  

Officials at Signing 

Manish Kumar, Member (Finance) at DVC, and Manoj Kumar Dubey, Chairman and Managing Director of IRFC, were among the officials present when the agreement was signed. The funding adds renewable energy projects to IRFC’s lending activities outside its main railway business.  

IRFC’s Business 

IRFC is a Navratna Central Public Sector Enterprise under the Ministry of Railways. It is the dedicated market borrowing arm of Indian Railways and provides funds for railway expansion, modernisation and infrastructure development.  

Other Areas 

In recent years, IRFC’s financing activities have also covered power, metro rail, logistics, and renewable energy. The company said these areas have links with the railway ecosystem and wider infrastructure requirements.  

Net Zero Target 

IRFC noted that the DVC projects are linked to the Railways’ growing energy needs. The company also referred to Indian Railways’ target of achieving Net Zero Carbon Emissions by 2030 while outlining the role of renewable energy financing.  

Clean Energy Financing 

The agreement will be another instance of IRFC providing long-term financing outside conventional railway projects. Its financing activities now include infrastructure areas connected with railways as well as clean energy projects.  

Read More: Dr Lal PathLabs Share Price in Focus; To Acquire 70% Stake in SN Genelab for Up to ₹168 Crore! 

Indian Railway Finance Corporation (IRFC) Share Price Performance  

As of September 29, 2026, 11:20 am, IRFC share price was trading at ₹77.33, a 1.55% decrease from the previous closing price. 

Conclusion 

The ₹4,200 crore loan will fund DVC’s solar and battery storage projects in Jharkhand and West Bengal. It also adds renewable energy financing to IRFC’s wider lending activities. 

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