ReNew Power raises $585 mn through dollar green bonds

08 Apr 2021 CW Staff

Indian renewable energy firm ReNew Power has raised $585 million through its latest dollar bond offering.

The proceeds will be used by ReNew to refinance its debt of around 803 MW of operating wind and solar assets. The bonds have a tenor of 7.25 years and a fixed interest rate of 4.5% per annum. In principle approval has been obtained to list and trade the bonds on the India International Exchange (IFSC) Ltd (India INX).

Earlier, ReNew had raised around $325 million through overseas green bonds. The company offered its overseas green bonds at a 5.37% rate, with a maturity period of three and a half years. ReNew intends to utilise the proceeds to expand its capacity and to refinance high-cost local debt. It is expected to use around $225 million to repay its local debt.

In early 2020, it raised $450 million through a dollar bond issuance. The bonds were offered at a coupon rate of 5.87% with an average maturity of five and a half years. The company intended to utilise the proceeds worth nearly $65 million to meet its future capital expenditure requirements.

As we have reported earlier, in February this year, ReNew had signed an agreement for a business combination with RMG Acquisition Corporation II, a special purpose acquisition company (SPAC), resulting in the company becoming public.

Image Source

Also read: ReNew Power listed in WEF’s Global Lighthouse Network

Also read: ReNew Power eyes merger with SPACs for US listing

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..