ReNew is set to invest Rs 820 billion in Andhra Pradesh, covering the entire renewable energy value chain, including solar ingot and wafer manufacturing, project development, green hydrogen, and associated technologies. Additionally, ReNew secured USD331 million in debt financing from the Asian Development Bank (ADB) as part of a USD477 million package for a large-scale clean energy project in Andhra Pradesh. The remaining USD146 million will be arranged by ADB through other lenders. The project will integrate 837 MWp of wind and solar capacity with a 415 MWh battery energy storage system (BESS) to deliver 300 MW of peak power and 1,641 GWh of clean energy annually. The debt includes USD291 million in local currency from ADB’s ordinary capital resources and USD40 million from the ADB-administered Leading Asia’s Private Infrastructure Fund 2.
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