ReNew Energy secures $331 million ADB loan for hybrid project

ReNew Energy has received $331 million in debt financing from the Asian Development Bank (ADB) to develop a large-scale clean energy project in Andhra Pradesh. The financing includes up to $291 million in local currency from ADB’s ordinary capital resources and $40 million from the ADB-administered Leading Asia’s Private Infrastructure Fund 2.

The loan forms part of a $477 million financial package, with the remaining $146 million expected to be mobilised by ADB through other lenders. The project will integrate 837 MWp of wind and solar capacity with a 415 MWh battery energy storage system to deliver 300 MW of peak power and provide stable baseload supply.

On November 10, ReNew reported a 5.3% year-on-year decline in its consolidated net profit to Rs 467.5 crore for the September quarter (Q2 FY26) from Rs 493.9 crore a year earlier, while total income increased to Rs 3,855.7 crore from Rs 2,988.7 crore.