ReNew Energy signs funding agreements totaling Rs. 640 billion for green projects

By Mary-Katherine Stinson

Lexington, Ky., July 21 – ReNew Energy Global plc signed memorandums of understanding totaling Rs. 640 billion, or approximately $7.8 billion equivalent, with Power Finance Corp. and Rural Electrification Corp. to fund green energy projects, according to a release.

According to the agreement signed at the Clean Energy Ministerial meeting, ReNew will receive Rs. 320 billion from both Power Finance and REC for financing its current and upcoming energy transition projects.

The company will utilize the debt funding for new projects including solar, wind, hybrid, energy storage, solar modules and cells manufacturing and green hydrogen, according to the release.

ReNew is a renewable energy company based in Gurugram, India.

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