The initiative combines 837 megawatts of maximum wind and solar power generation.
ReNewEnergy Global Plc obtained a $331 million funding arrangement from the Asian Development Bank (ADB) as part of a comprehensive $477 million financial plan for a significant clean energy initiative in Andhra Pradesh.
The initiative combines 837 megawatts of maximum wind and solar power with a 415-megawatt-hour battery storage system to provide 300 MW of peak output.
It is projected to produce around 1,641 GWh of renewable energy each year.
The $331 million loan consists of as much as $291 million in local currency support from ADB’s regular capital funds and up to $40 million from the LEAP 2 fund managed by ADB.
The Asian Development Bank will secure the remaining $146 million from other financial institutions.
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