ReNew Energy Global secures $331 million from Asian Development Bank for Andhra Pradesh unit
ReNew Energy Global Plc on Friday said it has secured $331 million (about ₹2,935 crore) in debt from the Asian Development Bank (ADB) to support a clean energy project in Andhra Pradesh.
The funding is part of a $477 million financial package for the Andhra project, with the remaining $146 million to 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), ReNew said in a statement. The project is designed to deliver 300 MW of peak power and is expected to generate 1,641 GWh of clean energy annually.
