ReNew and Mitsui’s 320 MW round-the-clock (RTC) hybrid renewable energy project in India has secured a US$730 million green loan to refinance its existing debt and support project-related capital expenditure. The financing has been arranged through a consortium of 12 banks.
The transaction was led by Standard Chartered Bank, Société Générale (GIFT City), Sumitomo Mitsui Banking Corporation (Singapore) and Bank of America. The project spans Rajasthan, Maharashtra and Karnataka, and combines wind, solar and battery energy storage to provide firm and dispatchable renewable power.