ReNew secures $331 million ADB funding for major renewable energy project in Andhra Pradesh
The project, which combines 837 MWp of wind and solar capacity with a 415 MWh battery energy storage system, is designed to deliver 300 MW of peak power and dependable baseload supply.
- Nov 7, 2025,
- Updated Nov 7, 2025 8:22 PM IST
ReNew Energy Global Plc (NASDAQ: RNW), India’s leading renewable energy company, has secured $331 million from the Asian Development Bank (ADB) to build a large-scale clean energy project in Andhra Pradesh. The funding is part of a $477 million financial package, with the remaining $146 million to be arranged by ADB through other lenders.
The project will combine 837 MWp of wind and solar capacity with a 415 megawatt-hour (MWh) battery energy storage system (BESS), capable of delivering 300 MW of peak power and reliable baseload supply. It is expected to generate about 1,641 gigawatt-hours (GWh) of clean energy annually, significantly boosting grid stability and advancing India’s transition to a low-carbon energy future.
The $331 million debt package includes up to $291 million in local currency from ADB’s ordinary capital resources and up to $40 million from the ADB-administered Leading Asia’s Private Infrastructure Fund 2 (LEAP 2), with ADB coordinating the remaining financing.
The signing ceremony was presided over by Bhargav Dasgupta, ADB’s Vice-President for Market Solutions, and Sumant Sinha, ReNew’s Founder, Chairman, and CEO.
“India is entering a new phase of the clean energy transition under Prime Minister Modi’s leadership. This phase is defined not only by scale, but by reliability and flexibility,” said Sinha. “This project demonstrates that renewable energy can now be delivered competitively at grid scale as per peak power demand requirements. Our long-standing collaboration with ADB has enabled us to continually push the boundaries of what is possible in clean energy infrastructure, and this partnership reinforces our shared commitment to building a resilient, low-carbon energy system for India.”
“This is the first peak power renewable energy project to be financed by ADB and is expected to generate about 1,641 GWh of clean energy per year,” said Dasgupta. “Combining battery energy storage with wind–solar hybrid systems is a game-changer unlocking dependable clean power, stabilizing the grid, and advancing the country’s renewable energy sector.”
The project extends a strong, ongoing partnership between ReNew and ADB, which have collaborated on multiple initiatives aimed at decarbonizing India’s power sector. It also builds on a strategic Memorandum of Understanding signed at COP28 under the UNFCCC framework, focused on scaling clean energy deployment and grid transformation.
Earlier in April, ReNew announced a $2.5 billion investment to develop a 2.8 GW hybrid renewable energy complex in Andhra Pradesh, one of the largest such projects in India at a single location. This integrated facility will combine wind, solar, and battery storage technologies to deliver firm, dispatchable clean power during peak demand. Aligned with the Make in India mission, the project will utilize 100% domestically manufactured solar panels, cutting-edge tracking systems, and waterless robotic cleaning solutions to maximize efficiency and conserve resources.
ReNew Energy Global Plc (NASDAQ: RNW), India’s leading renewable energy company, has secured $331 million from the Asian Development Bank (ADB) to build a large-scale clean energy project in Andhra Pradesh. The funding is part of a $477 million financial package, with the remaining $146 million to be arranged by ADB through other lenders.
The project will combine 837 MWp of wind and solar capacity with a 415 megawatt-hour (MWh) battery energy storage system (BESS), capable of delivering 300 MW of peak power and reliable baseload supply. It is expected to generate about 1,641 gigawatt-hours (GWh) of clean energy annually, significantly boosting grid stability and advancing India’s transition to a low-carbon energy future.
The $331 million debt package includes up to $291 million in local currency from ADB’s ordinary capital resources and up to $40 million from the ADB-administered Leading Asia’s Private Infrastructure Fund 2 (LEAP 2), with ADB coordinating the remaining financing.
The signing ceremony was presided over by Bhargav Dasgupta, ADB’s Vice-President for Market Solutions, and Sumant Sinha, ReNew’s Founder, Chairman, and CEO.
“India is entering a new phase of the clean energy transition under Prime Minister Modi’s leadership. This phase is defined not only by scale, but by reliability and flexibility,” said Sinha. “This project demonstrates that renewable energy can now be delivered competitively at grid scale as per peak power demand requirements. Our long-standing collaboration with ADB has enabled us to continually push the boundaries of what is possible in clean energy infrastructure, and this partnership reinforces our shared commitment to building a resilient, low-carbon energy system for India.”
“This is the first peak power renewable energy project to be financed by ADB and is expected to generate about 1,641 GWh of clean energy per year,” said Dasgupta. “Combining battery energy storage with wind–solar hybrid systems is a game-changer unlocking dependable clean power, stabilizing the grid, and advancing the country’s renewable energy sector.”
The project extends a strong, ongoing partnership between ReNew and ADB, which have collaborated on multiple initiatives aimed at decarbonizing India’s power sector. It also builds on a strategic Memorandum of Understanding signed at COP28 under the UNFCCC framework, focused on scaling clean energy deployment and grid transformation.
Earlier in April, ReNew announced a $2.5 billion investment to develop a 2.8 GW hybrid renewable energy complex in Andhra Pradesh, one of the largest such projects in India at a single location. This integrated facility will combine wind, solar, and battery storage technologies to deliver firm, dispatchable clean power during peak demand. Aligned with the Make in India mission, the project will utilize 100% domestically manufactured solar panels, cutting-edge tracking systems, and waterless robotic cleaning solutions to maximize efficiency and conserve resources.