The bonds have a tenor of 7.25 years and a fixed interest rate of 4.5% a year.
They will be issued by certain unnamed subsidiaries of ReNew Power and are due on 31 March 2028.
The company plans to utilise the proceeds to, among other things, repay outstanding debt.
ReNew Power said that in principle approval has been obtained for the listing and trading of the bonds on the India International Exchange.
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