ReNew ties-up US$ 1-billion ECB consortium loan for largest single-project funding in Indian RE sector
As ReNew rapidly builds its total portfolio, this US$ 1-billion loan has been tied up through a special purpose vehicle and will be deployed for its hybrid Round-the-Clock (RTC) battery-enabled project.
- As ReNew rapidly builds its total portfolio, this US$ 1-billion loan has been tied up through a special purpose vehicle and will be deployed for its hybrid Round-the-Clock (RTC) battery-enabled project.
- The interest rate, after hedging, is expected to be lower than the Company's current average cost of debt on its balance sheet.
- This ECB loan follows ReNew's refinancing last month of its dollar-denominated bonds with domestic borrowings, becoming the first Indian renewable company to do so.
- ReNew Power is one of the largest renewable energy Independent Power Producers in India and globally.