| Project Detail |
Project Name ReNew Power COVID-19 Liquidity Support Project Project Number 54165-001 Borrower/Company ReNew Power Private Limited Country India Location Andhra Pradesh, Gujarat, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh Type or Modality of Assistance 7639 Debt Security Ordinary capital resources INR 3,776.50 million Approved Strategic Agendas Environmentally sustainable growth Inclusive economic growth Drivers of Change Partnerships Private sector development Sector / Subsector Energy / Renewable energy generation - solar - Renewable energy generation - wind Gender Equity and Mainstreaming Effective gender mainstreaming Responsible ADB Department Responsible ADB Division Responsible ADB Officer Kaur, Japnit Project Sponsor(s) Abu Dhabi Investment Authority Canada Pension Plan Investment Board GS WYVERN HOLDINGS LTD JERA B.V. Description Financing provided to ReNew Power Private Limited (RPPL) to part finance its working capital needs arising out of cash flow mismatches that may occur on account of the economic impacts of the coronavirus disease. Objectives and Scope The financing would be used to meet any short-term cash flow mismatches at RPPL or any of its subsidiaries. Linkage to Country/Regional Strategy The project, through its support for sustaining operations of renewable energy, is consistent with ADBs Strategy 2030 with respect to the following operational priorities: (i) operational priority 2: accelerating progress in gender equality; (ii) operational priority 3: tackling climate change, building climate and disaster resilience, and enhancing environmental sustainability.; and (iii) operational priority 4: making cities more livable. The project is aligned with ADBs $20 billion response package to the COVID-19 pandemic (announced on 13 April 2020). The project is also aligned with ADBs operational plan for Private Sector Operations 2019-2024, as well as ADBs Energy Policy, as it supports the operations of Indias largest renewable energy company. |
