Renault has confirmed it will supply engines to Lotus Racing in 2011.

The Hingham-based Formula One outfit will also benefit from Red Bull Racing's gearboxes and hydraulic system next season – both seen as encouraging developments for the Norfolk marque, which is keen to vastly improve on its debut season performances.

Lotus racing team principal Tony Fernandes said: 'I am absolutely delighted that we can now officially talk about the partnership with Renault.

'There has obviously been a great deal of speculation about which engine will be powering our cars from 2011 and now the announcement has been made I think everyone can see just how ambitious we really are. 'The combination of the Renault engine and the Red Bull Technology gearbox and hydraulics gives our design and aero teams a successful, tried and tested platform to work with for next year's car.

'We have started a partnership with Renault and, much like taking on experienced drivers in our first year, we will be working with people who know how to win and who will help push us even further forward towards the front of the grid.'

Lotus Racing bought out its three-year contract with Cosworth – a decision based on the poor reliability of its related Xtrac hydraulics, rather than the power unit.

Prearing for this weekend's Brazilian Grand Prix, chief technical officer Mike Gascoyne added: 'Having worked with Renault before I know exactly what they will bring to our team and I am delighted that they will be playing an integral role in the next chapter of our story.

'The engine itself gives our designers, engineers and drivers an excellent platform to work with – it is very drivable, has good reliability and comes with a track support team who have a wealth of experience and knowledge. We are all looking forward to working with Renault and are very excited about the future for our partnership and our team.'

Lotus are yet to confirm their driver line-up for next season, while negotiations are also continuing over whether the team will continue to used the Lotus name in 2011.