Welcome to our dedicated page for Renew Energy Global Plc news (Ticker: RNW), a resource for investors and traders seeking the latest updates and insights on Renew Energy Global Plc stock.
ReNew Energy Global plc (symbol: RNW) is a prominent developer and operator of clean energy projects, committed to addressing India's growing energy needs with a focus on sustainability and social responsibility. As one of the largest clean energy companies in India, ReNew Energy Global plc has an impressive installed and operational capacity of 500 MW across Maharashtra, Rajasthan, Karnataka, and Gujarat.
The company is currently expanding its portfolio with an additional 500 MW of wind energy projects under construction, showcasing its dedication to renewable energy. Moreover, ReNew Energy has made significant strides in the utility-scale solar sector, with a 250 MW pipeline of projects under construction in Madhya Pradesh, Andhra Pradesh, and Telangana.
ReNew Energy Global plc's mission is to lead the transformation of India’s energy portfolio by delivering cleaner and smarter energy solutions. By doing so, the company aims to significantly reduce India's carbon footprint. The company's commitment to innovation and efficiency is evident through its reliable generation of non-conventional power and its comprehensive approach to value-added energy services.
Besides its core business of clean energy generation, ReNew Energy also provides advanced solutions in digitalization, energy storage, and carbon markets. These initiatives are increasingly important for addressing climate change and ensuring a sustainable future. ReNew Energy Global plc’s multifaceted approach not only meets current energy demands but also contributes to a more sustainable and inclusive energy ecosystem.
For the latest updates and detailed information on ReNew Energy Global plc’s performance and developments, visit StockTitan.
ReNew Power has sold a 117 MW/138 MWp rooftop solar portfolio to Fourth Partner Energy for INR 6.72 billion (~$89.9 million). After settling an outstanding debt of INR 1.37 billion (~$18.3 million), ReNew will receive cash proceeds of INR 5.35 billion (~$71.6 million). This transaction is expected to enhance shareholder value and allow for capital reallocation into higher-return projects. However, the sale will reduce the run-rate-adjusted EBITDA by INR 700 - 720 million (~$9.35 – 9.55 million).
ReNew Power and Fluence have announced a 50:50 joint venture (JV) to tap into India's burgeoning energy storage market, projected to reach 27GW/108GWh by 2030. The JV aims to localize and integrate Fluence's energy storage technologies in India, enhancing market access for Indian customers. With ReNew's existing 700 MW peak power capabilities, the JV plans to provide battery energy storage systems (BESS) to a range of clients. Operations are set to commence in H1 2022, contributing to India's climate goals of 450 GW renewable capacity by 2030.
ReNew Energy Global Plc (NASDAQ: RNW, RNWWW) has successfully raised US$400 million through the issuance of senior secured dollar notes at an interest rate of 4.5%. These are certified green bonds, listed on the Singapore Exchange, with a tenor of 5.25 years. The funds will be used for refinancing existing high-cost debt and financing renewable energy projects. This marks the first High Yield issuance from the ASEAN and South Asian regions for 2022. ReNew has raised over US$3.5 billion via similar issuances, demonstrating strong investor interest.
ReNew Power has successfully commissioned its 300 MW SECI-6 solar project, marking a new milestone with a total operating capacity of 7.4 GW. This growth includes a record 1.5 GW of renewable energy projects for fiscal year 2022, positioning the company on track to reach 8.2 GW by FY22 end. Major installations occurred in Rajasthan and Gujarat, with a significant portion following Power Purchase Agreements with the Solar Energy Corporation of India. ReNew aims for 18 GW by FY25 and is actively supporting India's climate goals, including green hydrogen initiatives.
ReNew Energy Global PLC (NASDAQ: RNW, RNWWW) has achieved carbon neutral status for its operations across over 100 sites in India, verified by DNV. This marks a significant step towards its commitment to net-zero emissions established in March 2021. ReNew reported that during FY2021, it avoided more than 10 million tCO2e emissions, which vastly exceeds its scope 1 and 2 emissions. The company is recognized among the top 10 renewable power producers in the world by Sustainalytics for ESG Risk Ratings, enhancing its leadership in sustainability and commitment to transparency in environmental practices.
Larsen & Toubro (L&T) and ReNew Power have announced a strategic partnership to develop green hydrogen projects in India. This collaboration aims to harness their combined expertise to create sustainable energy solutions. Green hydrogen, produced using renewable electricity, is expected to play a critical role in transitioning to cleaner energy sources. Anticipating a significant demand in India, the partnership plans to capitalize on opportunities projected to require over $60 billion in investments by 2030. Both companies seek to position themselves as leaders in the emerging green hydrogen market.
ReNew Power has reported its Q2 FY22 and H1 FY22 financial results, showing a total income increase of 26.0% to INR 38,119 million (US $514 million). Q2 FY22 income rose 44.3% to INR 21,312 million (US $287 million). However, the company faced a net loss of INR 9,849 million (US $133 million) for H1 FY22, significantly higher than the previous year. Adjusted EBITDA for H1 FY22 grew 27.9% to INR 31,902 million (US $430 million). The company anticipates an operating capacity of 8.2 GWs by FY22 end with a projected Adjusted EBITDA of INR 60,750 million (US $810 million).
ReNew, a leading renewable energy company in India, plans to release its first half and second quarter fiscal year 2022 earnings report on November 17, 2021, after market close. A conference call to discuss the earnings results is scheduled for 8:30 a.m. ET on November 18, 2021. The company, which operates approximately 10.2 GW of renewable energy projects, focuses on utility-scale wind and solar, hydro, and distributed solar energy projects.
ReNew (NASDAQ: RNW), India's leading renewable energy company, hosted a virtual Capital Markets Day on Oct. 12, 2021. The event featured insights from key executives on the company's outlook and growth in the Indian renewable energy market, which includes 300 GW of bid opportunities. ReNew aims for 18 GW of operational capacity by FY'25, currently reporting 6.4 GW. The company reaffirmed its weather-adjusted EBITDA guidance of US$ 810 mn for FY'22 and projected an annual EBITDA of US$ 1.1 - 1.2 bn from 10.2 GW by FY'23. Net debt for the current capacity is US$ 3.5 bn, expected to rise to US$ 5.7 bn for 10.2 GW.
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