ReNew secures $100 million financing from Dutch bank FMO

ReNew Solar Power Private Limited, a subsidiary of ReNew Energy Global, has secured a USD 100 million (approximately INR 955 crore) financing facility from the Dutch entrepreneurial development bank, FMO. The 10-year, INR-denominated loan was issued under the Voluntary Retention Route (VRR).

The capital is intended to support renewable energy projects currently under construction, including solar and hybrid projects, to meet India’s increasing power demand. This transaction represents FMO’s largest single-ticket investment in the Indian energy sector and its largest 2X-aligned corporate financing in Asia to date. The facility qualifies under the 2X Challenge, a global initiative aimed at advancing women’s economic participation and empowerment through investment.

ReNew currently maintains a clean energy portfolio of 20.5 GW across 10 Indian states, primarily consisting of solar and wind energy, alongside 1.7 GW/6.2 GWh of battery energy storage system capacity. The company also operates solar module and cell manufacturing facilities, with plans to expand its solar cell manufacturing capacity by 4 GW by the end of December 2026.