Reuters
India's ReNew Power said on Wednesday it had secured a $1 billion loan from 12 international lenders, led by Dutch-based Rabobank, in the largest external commercial borrowing for a single project in the country's renewable sector. The loan will be used for ReNew's hybrid, round-the-clock, battery-enabled power supply project, the renewable energy producer and solar equipment maker said in a statement. ReNew has signed a PPA or long-term power purchase agreement with Solar Energy Corp of India for the project, which will see wind and solar farms set up across Karnataka, Rajasthan, and Maharashtra states.