New Delhi, Nov. 7 -- Nasdaq-listed ReNew on Friday signed a $331 million financing deal with the Asian Development Bank to develop a large-scale renewable energy project in Andhra Pradesh. The multilateral agency will also provide an additional $146 million through other lenders, ReNew said in a statement.

The planned project will integrate 837 MWp of wind and solar capacity with a 415 megawatt-hour (MWh) battery energy storage system (BESS). It will be designed to deliver 300 MW peak power.

In April this year, ReNew had announced a $2.5 billion investment to develop a 2.8 GW hybrid renewable energy complex in Andhra Pradesh.

The $331 million debt from ADB comprises up to $291 million in local currency financing from ADB's ordinary cap...