ReNew Power raises debt finance worth Rs 22.35 billion

February 4, 2018

ReNew Power Ventures Private Limited has raised Rs 22.35 billion via non-convertible debentures (NCDs) for the repayment of its existing loans. The issuance has been undertaken in two parts – credit enhanced NCDs worth Rs 7.6 billion and multi-issuer cross-collateralised rupee bonds valued at Rs 14.75 billion. The funds  from the latter are for the Andhra Pradesh, Rajasthan and Gujarat discoms, and will be spread across eight special purpose vehicles (SPVs) and 12 projects aggregating 234 MW of installed capacity.