Core Insights - ReNew has signed a $331 million financing deal with the Asian Development Bank (ADB) for a large-scale renewable energy project in Andhra Pradesh, which will also receive an additional $146 million from other lenders [1][2] - The project will feature 837 MWp of wind and solar capacity along with a 415 MWh battery energy storage system, designed to deliver 300 MW of peak power [1][2] - This project marks ADB's first financing of a peak power renewable energy project, expected to generate approximately 1,641 GWh of clean energy annually [4] Financing Details - The $331 million financing includes up to $291 million in local currency from ADB's ordinary capital resources and up to $40 million from the ADB-administered Leading Asia's Private Infrastructure Fund 2 (LEAP 2) [2] - ADB will arrange the remaining financing for the project [2] Strategic Developments - ReNew had previously announced a $2.5 billion investment for a 2.8 GW hybrid renewable energy complex in Andhra Pradesh [2] - The company is actively selling assets as part of its capital recycling strategy, including a recent agreement to sell 300 MW of solar projects to Sembcorp Industries for around $100 million [6] Company Positioning - ReNew's gross clean energy portfolio stands at 18.2 GW, with 1.1 GW of battery energy storage systems as of August 13, 2025 [8] - The company also has 6.4 GW of solar module and 2.5 GW of solar cell manufacturing capacity [8] Market Impact - The integration of battery energy storage with wind-solar hybrid systems is expected to be transformative, providing reliable clean power and stabilizing the grid [4] - The CEO of ReNew emphasized that the project demonstrates the competitive delivery of renewable energy at grid scale [3]