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Goldman-Backed ReNew Secures $1 Billion Loan for India Project

  • Firm to use loan for round-the-clock generation project
  • Loan comes amid India’s efforts to decarbonize its economy
Turbines operate at a wind farm in Hubli, Karnataka, India.
Turbines operate at a wind farm in Hubli, Karnataka, India.Photographer: Dhiraj Singh/Bloomberg

ReNew Energy Global Plc, one of India’s largest renewable power producers, said it has secured a $1 billion loan for a project that can supply round-the-clock clean electricity.

It will borrow the money from a consortium of 12 international lenders, ReNew said in an statement. The loan is the largest overseas borrowing for a single renewable power project in India, it said.