ReNew bags $7.8b to fund green energy projects

The amount will be provided by the Power Finance Corp. and Rural Electrification Corp.

India-based ReNew Energy signed a memorandum of understanding (MOU) with Power Finance Corporation (PFC) and the Rural Electrification Corporation (REC) to secure around $7.8b (INR640b) funding for its green energy projects.

In a statement, ReNew said the MOU required PFC and REC to lend the company around $3.9b (INR320b) each.

ALSO READ: ReNew Energy subsidiary raises $400m in green bonds

The MOU was signed at the Clean Energy Ministerial meeting in Goa.

“We have a long-standing relationship with PFC and REC, who are among the biggest lenders to the energy sector. These MoUs will help us meet our current and future financing needs and demonstrate ReNew’s ability to raise long-term financing for large-scale green energy projects. We will leverage this relationship for our energy transition goals,” said ReNew President of Corporate Finance Kailash Vaswani.

Follow the link for more news on

ReNew Power

India's renewable energy

Also Read

Azure Power secures INR37b REC, HSBC refinancing

AMPIN Energy Transition achieves financial closure for 200MWp Rajasthan project

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit