ReNew has secured a $100 million, 10-year financing facility from Dutch entrepreneurial development bank FMO to support renewable energy projects under construction across the group, the company announced on Tuesday.
The facility has been extended to ReNew Solar Power through the Voluntary Retention Route (VRR). ReNew said the financing would provide long-term capital for its ongoing portfolio build-out while helping diversify its funding sources across domestic and international markets.
“The 10-year facility gives us access to stable, long-term capital at a critical stage of our portfolio build-out, while further diversifying our funding sources across international and domestic markets,” Kailash Vaswani, chief financial officer of ReNew, said.
The financing qualifies under the 2X Challenge, a global initiative focused on advancing women’s economic participation and empowerment through investment. The announcement did not disclose project-wise allocations, interest costs or the locations of the renewable energy assets that will receive support.
ReNew has a clean energy portfolio of 20.5 gigawatts (GW), according to the company. Its manufacturing platform includes 6.4 GW of solar module capacity and 2.5 GW of solar cell capacity, linking the financing announcement to both power-generation projects and domestic clean-energy supply chains.
The company is also expanding its solar cell manufacturing capacity by an additional 4 GW. That expansion is expected to become operational by December 2026. The planned increase would take ReNew’s solar cell manufacturing capacity to 6.5 GW if completed as stated, although the company did not provide further details on the facilities, investment value or commissioning schedule.
The financing comes as renewable energy companies continue to require large volumes of long-term capital for projects that take time to build and begin generating revenue. For ReNew, the facility is intended to support assets already under construction rather than announce a new project pipeline.
FMO’s financing also adds an international development-finance institution to ReNew’s funding sources. The company said the facility would complement its access to capital in both international and domestic markets. Further details on disbursement milestones, project-level deployment and construction progress were not provided in the announcement.
