ReNew Power receives US$250 million debt financing from OPIC to build 400MW of PV in India

Facebook
Twitter
LinkedIn
Reddit
Email
Renew Power claims to have raised more than INR80 billion (US$1.2 billion) in debt sanctions in 3.5 years. Flickr: Gopal Vijayaraghavan

India-based renewables developer ReNew Power Ventures will receive up to US$250 million of debt financing from the Overseas Private Investment Corporation (OPIC), the US government's development finance institution, to help construct 400MW of solar PV projects in India.

Sumant Sinha, chairman and chief executive of ReNew Power 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.”

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Just last week, ReNew bagged the largest capacity of any developer in the 1.2GW solar auction in the state of Jharkhand, winning 522MW of utility-scale projects, each more than 25MW in size.

The firm now has more than 2.4GW of clean energy assets spread across nine states: Gujarat, Haryana, Madhya Pradesh, Rajasthan, Maharashtra, Karnataka, Telangana, Andhra Pradesh and Jharkhand. The company is backed by investors including Goldman Sachs, Abu Dhabi Investment Authority (ADIA), Asian Development Bank and Global Environment Fund.

The company recently signed PPAs for four PV projects with combined capacity of 286 MW in Telangana and won 180MW in a Karnataka auction.

In the last three and a half years, Renew Power claims to have raised more than INR80 billion (US$1.2 billion) in debt sanctions.

OPIC tends to work with the US private sector and mobilizes private capital to help US businesses gain footholds in emerging markets.

If you are looking to invest in or develop solar projects in India, join us on the 7th of June in London at  Solar Finance & Investment: India, a conference designed to bring together European and North American investors and developers looking into the Indian market, as well companies with consolidated presence that are exploring new partnerships.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.

Read Next

July 8, 2025
German solar glass manufacturer Glasmanufaktur Brandenburg (GMB) has filed for insolvency after posting monthly losses of €900,000 this year.
July 8, 2025
Energy consultancy JMK Research has forecast 28.3GW of utility-scale and residential solar PV to be installed in India during fiscal year 2026.
July 8, 2025
SJVN Green Energy has commenced commercial operations of 100.02MW from its 1,000MW solar power project in Bikaner, Rajasthan.
July 7, 2025
ReNew has received a non-binding final acquisition offer from a consortium at US$8 per share, which is 13.2% more than their earlier offer.
July 7, 2025
In Europe, PV panel prices fell marginally between May and June, leading to a slight downturn in European module buyers’ market confidence.
July 4, 2025
Chinese PV provider Skycorp Solar Group has announced a solar plant acquisition and development strategy following unanimous board approval.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK