Mumbai, Oct. 19 -- ReNew has secured a $100 mn financing facility from FMO, the Dutch entrepreneurial development bank, to support renewable energy projects under construction across the group. The facility has a tenure of 10 years and is intended to provide long-term capital as the company expands its clean energy portfolio.
The financing has been extended to ReNew Solar Power under the Voluntary Retention Route, a mechanism used to facilitate long-term funding. ReNew said the facility would also help diversify its funding sources across domestic and international markets, reducing reliance on any single source of capital.
The facility qualifies under the 2X Challenge, a global initiative focused on advancing women's economic participation and empowerment through investment. The qualification links the financing to broader development objectives alongside its role in supporting renewable energy infrastructure.
ReNew has a clean energy portfolio of 20.5 GW. In addition, it has 6.4 GW of solar module manufacturing capacity and 2.5 GW of solar cell manufacturing capacity, giving the company an integrated presence across power generation and equipment production.
The company is expanding its solar cell manufacturing capacity by a further 4 GW. This additional capacity is expected to become operational by December 2026. ReNew said the new financing would support projects currently being built across the group while strengthening its access to stable capital in domestic and international markets.
Published by HT Digital Content Services with permission from Construction World.