Indian hybrid renewables project secures $1bn loan
Loan provided by 12 international lenders is largest to a single renewables project in India, developer Renew Power says
Renew Power, India’s leading pureplay renewables company, has secured $1bn of project finance for a hybrid 1.3GW solar, wind and battery storage project spanning three states, the largest single-project-funding to date in the country’s renewables sector. The $1.35bn project, in which Japan’s Mitsui holds a 49pc stake, is the first of its type in India and is scheduled to start up in August 2023. It will have 300MW of wind power, with the rest of the capacity deployed as solar plus battery storage. The capacity will be spread across the Indian states of Karnataka, Rajasthan and Maharashtra. Renew says the project will provide India’s lowest-cost consistent renewable power. 1.3GW – Total

Also in this section
22 July 2025
Sinopec hosts launch of global sharing platform as Beijing looks to draw on international investors and expertise
22 July 2025
Africa’s most populous nation puts cap-and-trade and voluntary markets at the centre of its emerging strategy to achieve net zero by 2060
17 July 2025
Oil and gas companies will face penalties if they fail to reach the EU’s binding CO₂ injection targets for 2030, but they could also risk building underused and unprofitable CCS infrastructure
9 July 2025
Latin American country plans a cap-and-trade system and supports the scale-up of CCS as it prepares to host COP30