Resolven, the EQT-backed Indian renewable energy platform created as a carve-out of Zelestra’s India business, has mobilised approximately $900 million (INR 8,550 crore) in financing since launching as an independent renewable energy company earlier this year. This includes about $700 million (INR 6,650 crore) in fund-based debt and $200 million (INR 1,900 crore) group-level non-fund facilities.
Resolven said these financings have been mobilized from a diversified set of 15 lenders spanning across public sector bank, private banks, MNC banks and infrastructure financing institutions.
The company’s financing journey began in March 2026 with the closing of INR 450 crore refinancing for its 136 MW operating assets with an Infrastructure Debt Fund. The refinancing reduced the company’s interest costs and locked-in fixed rates in a volatile environment.
Over the past quarters, Resolven has secured financing for 1 GW of multi-technology FDRE and hybrid renewable projects. These financings include a mix of INR loans and External Commercial Borrowings (ECB). Further, the company is in advanced stages of closing $219.5 million (INR 2,100 crore) financing for 400 MW of wind-solar hybrid projects from leading financing institutions.
“When we set out on our ambitious journey of building a 10 GW renewable energy company, we wanted to broaden our lender base and diversify our financing mix while optimizing on overall cost of capital. During the course of this year, we have been able to onboard several domestic and international lenders to back us on our growth journey,” said Abhinav Agarwal, Chief Financial Officer, Resolven.
Resolven has a development pipeline of approximately 5.5 GW across solar, wind, hybrid and storage. The company is targeting more than 1.5 GW of new renewable capacity annually across solar, wind, hybrid and battery storage, and aims to reach 10 GW by 2030.
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