ADB, ReNew Sign $331 Million Deal for Solar-Wind-BESS Power Plant, Generating 24/7 Clean Energy for India
India, Nov. 10 -- The Asian Development Bank (ADB) has signed a $331 million finance package with ReNew Vyoman Power Private Limited for an 837-megawatts wind-solar power plant with a 415-megawatt-hour battery energy storage system (BESS) facility in Andhra Pradesh, India. The project will deliver 300 megawatts of round-the-clock peak power and guaranteed baseload energy, strengthen grid reliability, and support India's clean energy transition.The financing package includes ?25.78 billion local currency loan (equivalent to $291 million) from ADB's ordinary capital resources and up to $40 million from ADB-administered Leading Asia's Private Infrastructure Fund 2 (LEAP 2). The total debt financing for the project is expected to reach $477 mil...
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