ReNew Energy Global plc Warrant - RNWWW STOCK NEWS

ReNew Power has partnered with Mitsui & Co. to develop a 400 MW Round-the-Clock (RTC) renewable energy project in India. Mitsui will acquire a 49% stake in the project, which will involve the installation of 1,300 MW of renewable energy capacity and up to 100 MWh of battery storage. The project is set to commence operations in Q3 2023 and aims to support India's goal of achieving 500 GW of non-fossil fuel-based installed capacity by 2030. The 25-year PPA signed with Solar Energy Corporation of India ensures electricity supply at ₹2.90/kWh, increasing by 3% annually for 15 years.

ReNew Power has partnered with Mitsui & Co., Ltd., with Mitsui acquiring a 49% stake in a renewable energy project in India. The project, consisting of three wind farms and a solar plus battery storage facility, will provide 400 MW of electricity to the Solar Energy Corporation of India (SECI). The commercial operations are expected to commence in Q3 2023, backed by a 25-year Power Purchase Agreement at ₹2.90/kWh. This initiative aligns with India's goal to achieve 500 GW of non-fossil fuel capacity by 2030, furthering the country's clean energy transition.

ReNew Power has partnered with Mitsui & Co., Ltd., whereby Mitsui will acquire a 49% stake in ReNew's Round-the-Clock (RTC) renewable energy project. This project, which includes three wind farms and a solar plus battery storage facility, aims to provide 400 MW of electricity to the Solar Energy Corporation of India (SECI) over 25 years at ₹2.90/kWh. Expected to commence in Q3 2023, this initiative supports India's commitment to ramping up renewable energy capacity to 500 GW by 2030.

IndianOil, L&T, and ReNew Power have signed a binding term sheet to form a joint venture to develop India's green hydrogen sector. The collaboration aims to leverage L&T's EPC expertise, IndianOil's oil refining capabilities, and ReNew's renewable energy solutions to scale up green hydrogen production. The joint ventures will focus on manufacturing electrolyzers and developing green hydrogen projects at IndianOil's refineries. This initiative aligns with the Indian government's green hydrogen policy and is poised to enhance India's energy security while contributing to carbon neutrality.

ReNew Energy Global plc (Nasdaq: RNW) reported its Q3 FY22 results, showcasing a 25.6% increase in total income for nine months, reaching INR 51,581 million (US$ 693 million). The company added 1.1 GW of commissioned capacity in Q3 FY22. However, net loss increased to INR 12,573 million (US$ 169 million) compared to INR 4,093 million (US$ 55 million) in FY21, largely due to Nasdaq listing costs. Adjusted EBITDA rose by 27.5% to INR 42,456 million (US$ 571 million) over the same period. The company continues to expect strong future performance despite adverse weather impacts.

ReNew Energy Global plc (NASDAQ: RNW, RNWWW) announced a $250 million share repurchase program aimed at enhancing shareholder value. Funded by proceeds from the recent sale of its solar rooftop portfolio and existing cash, the program's commencement is pending court approval. The company reported preliminary financial metrics for Q3 FY'22, highlighting total income of INR 13,608 million ($183 million) for the quarter and INR 51,727 million ($695 million) for nine months ending December 31, 2021. The Company aims for a run rate adjusted EBITDA of $825-$890 million for its operating portfolio of 7.3 GW.

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 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.