ReNew Energy Secures $331M for Major Clean Energy Project

ReNew Energy Global Plc announced securing a significant $331 million financing package from the Asian Development Bank (ADB) intended for a massive renewable energy project in Andhra Pradesh.

This forms part of a broader $477 million financial arrangement designed to bolster the development of large-scale clean energy projects across the region. The remaining $146 million will be sourced by ADB through other financial partners.

The project will incorporate 837 MWp of wind and solar energy capacity, paired with a 415 MWh battery energy storage system, aiming to produce 300 MW of peak power while ensuring consistent baseload power delivery. With additional backing from ADB-administered Leading Asia's Private Infrastructure Fund 2 (LEAP 2), this initiative underscores a strategic push towards India's transition to sustainable energy.