ReNew Energy has received $331 million from the Asian Development Bank (ADB) to support the development of a clean energy project in Andhra Pradesh. The $331 million debt from ADB includes up to $291 million in local currency financing from ADB’s ordinary capital resources. Furthermore, it includes up to $40 million from the ADB-administered Leading Asia’s Private Infrastructure Fund 2. This financing forms a part of a larger $477 million financial package, with the remaining $146 million to be mobilised by ADB through other lenders.
The clean energy project combines 837 MWp of wind and solar capacity with a 415 MWh battery energy storage system. Furthermore, the project is designed to deliver 300 MW of peak power and ensure a reliable baseload supply.
Earlier in October 2025, ADB approved a results-based loan of $460 million to upgrade rural power infrastructure and promote distributed renewable energy generation in Maharashtra.
