ReNew inks pact with ADB for $5.3 bn funding
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New Delhi: Renewable energy firm ReNew Energy Global Plc has inked an initial pact with the Asian Development Bank (ADB) for a funding of $5.3 billion. “The MoU was signed at COP28, Dubai by ReNew’s Founder, Chairman and CEO, Sumant Sinha and Suzanne Gaboury, Director General, Private Sector Operations Department, ADB,” a company statement said. According to the statement, the MoU identified potential investments in renewable energy projects, manufacturing, carbon offset projects, green hydrogen, to jointly support sustainable energy transition. ReNew Energy Global Plc and ADB will also collaborate on climate change mitigation and adaptation projects, it said. The initial pact covers lending of more than $5.3 billion between 2023 and 2028, it informed.
