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

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

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

October 8, 2025
Despite policy headwinds on the federal level, there is optimism for the future of the US solar and storage sector.
October 8, 2025
Officials from Norway and Egypt have agreed provisional terms for the financing of the Dandara solar park in Egypt, which is being built and operated by Norwegian IPP Scatec.
October 8, 2025
Saatvik Green Energy has secured new solar PV module orders worth more than INR7 billion (US$84 million), to be delivered in this financial year.
October 7, 2025
Juniper Green Energy through its subsidiary Juniper Green Sigma Eight has signed a 70MW power purchase agreement with renewable energy giant Tata Power. 
October 7, 2025
OpenSolar has secured US$13.1 million in equity financing from technology investors, including Titanium Ventures, Google and others.
October 7, 2025
Doral Renewables has secured a PPA with an unnamed 'corporate buyer' for its 430MW Cold Creek solar-plus-storage project in Texas.

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