ReNew inks initial pact with Asian Development Bank for $5.3 bn funding
Renewable energy company ReNew Energy Global Plc has entered a $5.3 billion funding agreement through a Memorandum of Understanding (MoU) with the Asian Development Bank (ADB). Signed at COP28 in Dubai, the MoU outlines collaboration on climate change projects, renewable energy investments, manufacturing, carbon offset initiatives, and green hydrogen. ReNew, led by Founder and CEO Sumant Sinha, aims to support India's target of achieving 500 GW of renewable capacity by 2030.