ReNew announced that it has secured a USD 100 million (approximately INR 955 crore) financing facility from FMO (Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden N.V.), the Dutch entrepreneurial development bank.
Extended to ReNew Solar Power Private Limited under the Voluntary Retention Route (VRR), the 10-year financing will support renewable energy projects currently under construction across the ReNew group.
The transaction marks FMO’s largest single-ticket investment in India’s energy sector and its largest 2X-aligned corporate financing in Asia to date, underscoring the growing role of international development finance in supporting India’s clean energy transition.
The facility qualifies under the 2X Challenge, a global initiative focused on advancing women’s economic participation and empowerment through investment. Proceeds from the INR-denominated financing will be deployed towards ReNew’s under-construction renewable energy projects.
The long-term financing strengthens ReNew’s access to international capital and further diversifies its funding base across domestic and global markets. With a 10-year tenor aligned with the long operating life of renewable energy assets, the facility provides stable capital to support the Company’s expanding portfolio and continued growth.
Kailash Vaswani, Chief Financial Officer, ReNew, said: “This financing is a strong endorsement of ReNew’s scale, execution capabilities and long-term growth strategy, and reflects the confidence of leading global institutions in India’s clean energy opportunity. 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. We are delighted to strengthen our partnership with FMO and channel this capital towards projects that will contribute to India’s rapidly expanding clean energy ecosystem.”
Marnix Monsfort, Director & Head – Energy, FMO, said: “We are pleased to partner with ReNew on this 2X-aligned investment and support the Company’s growth ambitions. As FMO’s largest investment in India’s energy sector, this transaction demonstrates our commitment to supporting India’s energy transition through impactful, large-scale financing solutions. ReNew has established itself as a leading renewable energy company in the country, and we look forward to supporting its continued contribution to India’s clean energy future.”
The financing comes at a pivotal moment in India’s energy transition, as the country accelerates the deployment of renewable energy and the investment required to build the infrastructure of a low-carbon economy. For ReNew, the transaction reinforces its ability to mobilise long-term global capital at scale and deploy it towards projects that expand India’s clean energy capacity. It also deepens the Company’s relationship with FMO and reflects a shared commitment to financing an energy transition that is sustainable, inclusive and economically resilient.
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