OPIC to provide US$74 million funding for ReNew’s 100MW India solar project

Facebook
Twitter
LinkedIn
Reddit
Email
Flickr: Sanyam Bhagha

The Overseas Private Investment Corporation (OPIC), the US Government’s development finance institution, will provide US$74 million to Indian energy firm ReNew Power Ventures for a 100MW solar farm in the Indian state of Telangana.

This is the first project to go ahead under the US$250 million financing facility between OPIC and ReNew, known as the ReNew Master Financing Facility, which was announced in March. It will be used for the development, construction and operation of 400MW of separate PV projects under India’s National Solar Mission (NSM). The aim is to accelerate the timeline for financing new renewable energy projects.

This article requires Premium SubscriptionBasic (FREE) Subscription

Try Premium for just $1

  • Full premium access for the first month at only $1
  • Converts to an annual rate after 30 days unless cancelled
  • Cancel anytime during the trial period

Premium Benefits

  • Expert industry analysis and interviews
  • Digital access to PV Tech Power journal
  • Exclusive event discounts

Or get the full Premium subscription right away

Or continue reading this article for free

Back in March, 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.”

OPIC mobilizes private capital to help address critical development challenges, often helping US businesses to enter emerging markets, but in this case it is helping an Indian firm.

OPIC president and chief executive Elizabeth Littlefield said: “In India, outdoor air pollution is an ever growing public health concern. OPIC’s partnership with ReNew Power Ventures will have a transformative impact by helping India both reduce its emissions and increase energy capacity in the country through a diversified power generation mix. OPIC is committed to assisting India in its transition to a low carbon economy by investing in clean energy projects.” 

Earlier this month, reports emerged that Indian government and three of its state-run companies are setting up a US$2 billion equity fund to help renewable energy companies meet the country's ambitious targets.

On Monday consultancy firm Bridge to India explained how India's sudden crackdown on black money is unlikely to affect solar, but a lack of due diligence from lenders may be allowing other malpractice to thrive.

21 October 2025
New York, USA
Returning for its 12th edition, Solar and Storage Finance USA Summit remains the annual event where decision-makers at the forefront of solar and storage projects across the United States and capital converge. Featuring the most active solar and storage transactors, join us for a packed two-days of deal-making, learning and networking.
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.
16 June 2026
Napa, USA
PV Tech has been running PV ModuleTech Conferences since 2017. PV ModuleTech USA, on 16-17 June 2026, will be our fifth PV ModulelTech conference dedicated to the U.S. utility scale solar sector. The event will gather the key stakeholders from solar developers, solar asset owners and investors, PV manufacturing, policy-making and and all interested downstream channels and third-party entities. The goal is simple: to map out the PV module supply channels to the U.S. out to 2027 and beyond.

Read Next

Premium
October 14, 2025
OCI Holdings’ decision this week to buy a Vietnamese solar wafer facility to supply the US solar cell manufacturing industry makes clear the biggest vulnerability facing the sector today.
October 14, 2025
India has installed 4.9GW of residential rooftop solar capacity in the first half of 2025, according to a report by IEEFA and JMK Research.
October 14, 2025
Apple will support 650MW of projects as part of a major expansion of its renewable energy investments in Europe, aimed at reducing its carbon footprint.
Premium
October 13, 2025
Brett Beattie of Castillo Engineering looks at some of the key land grading work that can make multimillion-dollar differences to projects.
October 13, 2025
Korean chemical production firm OCI Holdings has acquired a 65% stake in a Vietnamese solar wafer production plant, intending to export solar wafers to the US.
October 13, 2025
The Trump administration has cancelled the 6.2GW Esmeralda 7 solar project in Nevada – once touted as one of the largest in the world.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 21, 2025
New York, USA
Solar Media Events
November 25, 2025
Warsaw, Poland
Solar Media Events
December 2, 2025
Málaga, Spain
Solar Media Events
February 3, 2026
London, UK