ReNew Secures $331M From Asian Development Bank As Part Of $477M Package For 837 MWp Wind-Solar-Battery Project In Andhra Pradesh; Project Expected To Generate 1,641 GWh Of Clean Energy Annually, Boosting Grid Stability And Accelerating India's Energy Transition

Author: Benzinga Newsdesk | November 07, 2025 11:36am

• Part of a US$477 million deal secured, ReNew will receive US$331 million from ADB, and the balance US$146 million will be arranged by ADB through other lenders
• Project expected to generate 1,641 GWh of clean energy annually, boosting grid stability and accelerating India's energy transition

ReNew Energy Global Plc (NASDAQ:RNW), India's leading renewable energy company and a preferred decarbonisation partner, today announced that it has secured US$331 million from the Asian Development Bank (ADB). This is a part of a US$477 million financial package secured that will support the development of a large-scale clean energy project in Andhra Pradesh. The balance US$146 million will be arranged by ADB through other lenders. The project integrates 837 MWp of wind and solar capacity with a 415 megawatt-hour (MWh) battery energy storage system (BESS). Designed to deliver 300 MW of peak power along with dependable baseload supply, the project will significantly enhance grid reliability and accelerate India's transition to a low-carbon energy future.

 

Left to right: Mr. Bhargav Dasgupta, Vice-President for Market Solutions at ADB, and Mr. Sumant Sinha, Founder, Chairman and CEO of ReNew, exchanging MOU for a US$331 million deal

The US$331 million debt from ADB comprises up to US$291 million in local currency financing from ADB's ordinary capital resources and up to US$40 million from the ADB-administered Leading Asia's Private Infrastructure Fund 2 (LEAP 2), with ADB arranging the remainder.

The signing of financing agreements was presided by Bhargav Dasgupta, Vice-President for Market Solutions at ADB, and Sumant Sinha, Founder, Chairman and CEO of ReNew.

Posted In: RNW