₹870 Crore Boost for ReNew Solar from British Investor.

ReNew Energy Global announced recently that it has secured a significant ₹870 crore (approximately $100 million) investment from British International Investment (BII), the United Kingdom's development finance institution. This financial boost is specifically earmarked to accelerate the expansion of ReNew's solar manufacturing operations within India.

The investment will be channeled into ReNew Photovoltaics, ReNew's dedicated solar manufacturing subsidiary located in India. This strategic move marks BII's maiden venture into solar manufacturing within the country, highlighting its commitment to fostering a robust and self-sufficient renewable energy supply chain in India, recognized as one of the world's most rapidly growing clean energy markets.

According to ReNew Energy, this infusion of capital from BII will play a crucial role in scaling up its domestic solar panel production capabilities, contributing to India's ambitious renewable energy targets and reducing reliance on imported solar equipment. The partnership underscores the growing confidence of international investors in India's clean energy manufacturing potential.