Debt financing
ReNew Energy Global raises $331-M from ADB for Andhra unit
Gurugram- and London-based renewable energy company ReNew Energy Global Plc has raised USD 331 million (around INR 2,935 crore) in debt from the Asian Development Bank (ADB) for its clean energy project in Andhra Pradesh. This funding is part of a larger USD 477 million financial package, with ADB responsible for mobilising the remaining USD 146 million from other lenders.The loan includes USD 291 million in local-currency financing from ADB's ordinary capital resources and USD 40 million from the ADB-administered Leading Asia's Private Infrastructure Fund 2 (LEAP 2).The project integrates 837 MWp of wind and solar capacity with a 415 megawatt-hour (MWh) battery energy storage system (BESS). It is designed to deliver 300 MW of peak power and is expected to generate 1,641 GWh of clean energy annually. ReNew currently manages a clean energy portfolio of approximately 18.2 GW.
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