ReNew Peak Power Renewable Energy Project (NDB-RENEWPEAKPOWER)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • India
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • New Development Bank (NDB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
ReNew Vyoman Power Private Limited
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 149.88 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 13200
Converted using 2025-09-03 exchange rate.
Loan Amount (USD)
$ 149.88 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 13200
Converted using 2025-09-03 exchange rate.
Project Cost (USD)
$ 600.74 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 52909
Converted using 2025-09-03 exchange rate.
Bank Documents
Other Related Projects
Primary Source

Original disclosure @ NDB website

Updated in EWS Nov 1, 2025

Disclosed by Bank Sep 3, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the NDB, the Project involves development of a hybrid renewable energy generation plant that consists of 250 MW wind power capacity, 435 MW solar power capacity and a 415 MWh battery energy storage system (“BESS”). The Project is designed to deliver electricity round the clock, as required by the electricity grid in India. The BESS equipped can be charged by excess power during non-peak hours, the overall combination of wind, solar and BESS capacity ensures the Project to deliver the required 300 MW PPA capacity during peak periods.

The project development objective is to support India energy transition through expansion of renewable energy sources capacity and reduction of reliance on fossil fuels.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the NDB, ReNew Private Limited (“Renew” or the “Sponsor”) is the second largest Indian renewable energy developer, established in 2011 by the current chairperson and chief executive officer, Mr. Sumant Sinha. Renew’s entire operations and management is based in India, however, it is listed overseas through a parent company Renew Global PLC (“Renew Group”) and has a market capitalization of USD 2.8 billion. ReNew has an aggregate 18.5 GW capacity including 7.3 GW capacity which is under development.

As stated by Bloomberg, ReNew Power Limited operates as a power generating company. The Company generates electricity through solar and wind power plants. ReNew Power serves customers in India.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - ReNew Power Private Limited Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No project contacts provided at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information though a form at the bottom of the following webpoage https://www.ndb.int/about-us/contact-us/. Alternatively, you can send an e-mail to info@ndb.int. 

ACCOUNTABILITY MECHANISM OF NEW DEVELOPMENT BANK

The New Development Bank (NDB) does not currently have an independent accountability mechanism to accept complaints related to NDB-financed projects. The Bank does have a whistleblower mechanism that receives complaints about misconduct related to corruption, fraudulent practices and instances of money laundering in projects financed by the NDB and/or against the NDB staff members. To learn more about the whistleblower mechanism and how to file a complaint, access this webpage at: https://www.ndb.int/about-us/whistleblowing/.

How it works

How it works