ReNew Energy Global Plc (NASDAQ: RNW), India’s leading renewable energy company, has received $331 million from the Asian Development Bank (ADB) to build a major clean energy project in Andhra Pradesh. The total project funding stands at $477 million, with ADB arranging the remaining $146 million through other lenders.
The upcoming facility will combine 837 MWp of wind and solar capacity with a 415 MWh battery energy storage system. It will deliver 300 MW of peak power and generate about 1,641 GWh of clean energy annually. This project aims to enhance grid stability and accelerate India’s shift toward a low-carbon future.
ADB’s debt package includes $291 million in local currency from its capital resources and $40 million from the LEAP 2 fund. The signing ceremony featured ADB Vice-President Bhargav Dasgupta and ReNew Founder and CEO Sumant Sinha.
Sinha said the project marks a new phase in India’s renewable journey—focused on scale, reliability, and flexibility. Dasgupta added that combining battery storage with wind-solar hybrid systems transforms renewable energy into a dependable power source.
This project strengthens ReNew’s partnership with ADB and supports India’s goal of building a resilient, low-carbon energy system.
