ReNew secures $100 million funding from BII for solar cell expansion in India

ReNew Photovoltaics, a unit of ReNew Energy Global, has received $100 million in funding from British International Investment to expand solar cell production in Dholera, Gujarat. The funding, BII’s first in India’s solar manufacturing sector, will support a new 4 GW TOPCon cell facility, bringing total cell capacity to 6.4 GW. The additional capacity is expected to support ReNew’s internal requirements and supply third-party orders, including those from NTPC and Shakti Pumps. Approximately 2,000 jobs are projected to be created through the expansion.