ReNew Power has signed a $250m debt financing agreement with the US Overseas Private Investment Corporation to build up to 400MW of new solar power projects in India.
ReNew Power chairman and chief executive officer Sumant Sinha said: “ReNew Power will have an edge in the solar competitive bidding scenario through this long-term OPIC facility.
“With another high-quality lender on board, ReNew Power continues to hold its leadership position in the renewable energy space in India.”
OPIC president and CEO Elizabeth Littlefield said: “By supporting the construction of new solar power projects, OPIC looks forward to helping ReNew Power meet India’s growing energy needs while further reducing the country’s carbon footprint.”
ReNew Power has more than 2.4GW of clean energy assets across nine states in India – Gujarat, Haryana, Madhya Pradesh, Rajasthan, Maharashtra, Karnataka, Telangana, Andhra Pradesh and Jharkhand.
Image: Morgue File
