The funding is part of a broader package worth US $477 million, with the remaining US $146 million expected to be mobilised through co-financiers identified by ADB.

ReNew Energy Global has secured about US $331 million (approximately Rs 2,935 crore) in debt financing from the Asian Development Bank (ADB) to develop a large-scale renewable energy project in Andhra Pradesh. The funding is part of a broader package worth US $477 million, with the remaining US $146 million expected to be mobilised through co-financiers identified by ADB.

The project will integrate 837 MW of wind and solar generation capacity with a 415 MWh battery energy storage system (BESS). Once operational, it is designed to deliver 300 MW of dispatchable power during peak hours and generate nearly 1,641 GWh of clean electricity every year. This hybrid setup aligns with India's broader efforts to strengthen grid reliability while expanding renewable energy penetration across southern states.

Under the financing structure, ADB will provide up to US $291 million from its ordinary capital resources in Indian rupees, while an additional US $40 million will come from the 'Leading Asia's Private Infrastructure Fund 2' (LEAP 2), which ADB administers. This blended funding model aims to attract further private investment into India's green power infrastructure.

ReNew's leadership stated that the partnership demonstrates the growing maturity of India's renewable sector, where projects can now combine solar, wind, and storage to ensure round-the-clock power delivery. The company sees the Andhra Pradesh project as a benchmark for hybrid systems that can address intermittency challenges while reducing carbon emissions.

With this investment, ReNew continues to expand its renewable portfolio, which currently stands at around 18.2 GW of total capacity. The project reinforces India's clean energy goals, supports ADB's commitment to sustainable development, and highlights how international financing can accelerate the transition toward a low-carbon economy.