FMO, the Dutch Entrepreneurial Development Bank, is providing a USD 100 million (INR-denominated) corporate debt facility to ReNew Solar Power Private Limited, the wholly owned subsidiary of ReNew Energy Global Plc ("ReNew" or "the Company"), one of India's leading decarbonization solutions companies. The financing will support the expansion of ReNew's renewable energy portfolio, including solar and hybrid projects across the country.
Founded in 2011, ReNew has been a pioneer in leveraging digital technologies to accelerate India's transition to clean energy. The company’s solar and wind projects, with a capacity of ~20 GW across 10 states, currently contribute approximately 1.9% of India's power capacity.
The ten-year facility marks FMO's largest investment in India's energy sector to date. As one of the world's major energy markets, this long-term financing will support the expansion of renewable energy to serve the growing demand while contributing to India's energy transition. FMO has classified 100% of the investment as Green, reflecting its contribution to climate mitigation.
The transaction also reflects FMO's commitment to reducing inequalities. Representing FMO's largest investment in advancing opportunities for women in Asia's energy sector, it qualifies under the 2X Challenge, a global initiative that supports gender equality and women's economic empowerment. ReNew meets the criteria through its governance and accountability practices, and its ambition to increase women's participation in its workforce to at least 30% by 2030, significantly above the current industry average of 11%. Additionally, the company also supports women's career advancement through mentoring and professional development programs, contributing to broader efforts to increase women's participation in the renewable energy sector.
Marnix Monsfort, Director, Energy at FMO said: “We are happy to partner with ReNew on this 2X aligned investment and support the Company’s growth ambitions. This long-tenor, INR denominated facility is FMO’s largest investment in the energy space in India. It reaffirms our commitment to delivering impactful, at-scale investment solutions and supporting India’s energy transition objectives. Our partnership with ReNew in this transaction sets a benchmark for delivering commercially sound financing in full compliance with the highest global E&S and governance standards.”
Kailash Vaswani, Chief Financial Officer, ReNew, said: “This transaction marks another milestone in ReNew's capital-raising journey and reflects the confidence that leading global development finance institutions place in our business model, execution track record and growth strategy. This milestone financing from FMO provides us with flexible, long-tenor growth capital to support our under-construction portfolio while further diversifying our funding sources. We are pleased to deepen our partnership with FMO and remain committed to deploying capital efficiently to create long-term value for our stakeholders."
ReNew is a leading decarbonization solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew’s clean energy portfolio of 20.5 GW (including 1.7 GW/6.2 GWh of BESS) on a gross basis as of August 18, 2026, is one of the largest globally. In addition to being a major independent power producer in India, it provides end-to-end solutions in a just and inclusive manner in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon markets that are increasingly integral to addressing climate change. ReNew develops, builds, owns, and operates utility-scale wind and solar energy projects, and hydro projects. In addition, ReNew has 6.4 GW of solar module and 2.5 GW of solar cell manufacturing capacities and is expanding its solar cells manufacturing capacity by another 4 GW, which is expected to be operational by December 2026. Website: www.renew.com
