Re­New Power se­cures US$ 390 mn debt fund­ing from ADB

Power Watch India - - DESPATCHES FINANCE -

Re­New Power Ven­tures Pvt Ltd an­nounced that it has se­cured long-term debt fi­nanc­ing of US$ 390 mil­lion from Asian De­vel­op­ment Bank (ADB). This is the first trans­ac­tion to in­clude in its fi­nanc­ing plans fund­ing from ADB as well as Lead­ing Asia’s Pri­vate Sec­tor In­fra­struc­ture Fund (LEAP). LEAP is a fund­ing ar­range­ment pro­vided by Ja­pan In­ter­na­tional Co­op­er­a­tion Agency (JICA) and is ad­min­is­tered by ADB.

The pro­ceeds from this ADB in­vest­ment will be utilised by the com­pany to de­velop and ex­pand ca­pac­i­ties in Andhra Pradesh, Gu­jarat, Jhark­hand, Kar­nataka, Mad­hya Pradesh and Te­lan­gana. Amongst its re­cent wins, Re­New Power is the first com­pany in In­dia to cross 1 GW of com­mis­sioned wind en­ergy ca­pac­ity. Re­New also emerged as the largest win­ner in the auc­tions con­ducted by the So­lar En­ergy Cor­po­ra­tion of In­dia (SECI).

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