Latest news with #ReNew
Time of India
3 days ago
- Business
- Time of India
Need to track green hydrogen utilisation: MNRE secretary
India is preparing a plan to track utilisation of green hydrogen and build global partnerships for export ing the fuel, Secretary Ministry of New and Renewable Energy Santosh Kumar Sarangi said Thursday. Speaking at the CII International Business Conclave on Green Hydrogen, he said traceability of green hydrogen utilisation is very important. He also said concessions for green hydrogen export will be part of India's deliberations in trade agreements. According to the secretary, one is not currently able to decipher whether steel was made using grey or green hydrogen once production is complete. 'Having traceability and trackability (of green hydrogen utilisation) is important,' Sarangi said. Steel is among the sectors where a push is being made for decarbonisation across the world since it accounts for roughly 10 per cent of global emissions. Sarangi said deliberations are underway with green hydrogen producers to finalise measures for identifying, tracing, and tracking the final product, which is made using green hydrogen. These efforts are in line with India's National Green Hydrogen Mission launched in January 2023, with Rs 19,744 crore outlay. The overarching objective of the mission is to make India a global hub for production, usage, and export of green hydrogen and its derivatives, by targeting 5 million tonnes production per annum by 2030. The secretary said the government is working towards collaborating with stakeholders in these aspects. 'We are in discussions with Europe, the Port of Rotterdam, and Port of Antwerp to ensure that Green Hydrogen exported to these countries has the right transmission lines,' he said. Responding to queries at the sidelines, Sarangi said green hydrogen exports and favourable terms for domestic producers will be part of India - European Union Free Trade Agreement negotiations. Wind speed forecasts in question Speaking to ET on the sidelines of the event, Sumant Sinha, Chairman and CEO, ReNew said wind forecasts are not as reliable, affecting project output. Sinha heads the CII National Council on Energy Transition & Hydrogen. He was responding to a query on the status of round-the-clock ( RTC ) renewable energy projects in the country and the reforms needed. 'The wind speeds are a lot lower than had been forecast earlier, leading to under generation from a lot of the wind projects,' Sinha said. RTC projects generally use a mix of solar, wind, and battery storage to ensure continuous supply of clean energy. According to Sinha, wind forecasts are not turning out to be accurate, leading to wind turbine-based generation projects underperforming. ReNew has India's largest wind portfolio of 4.7 GW, representing 10.5 percent of India's total wind energy capacity. 'Now because we have history and because we have all these wind turbines installed all across the country, we are able to see that and so we are making adjustments for future generation forecasts,' he said.
Time of India
3 days ago
- Business
- Time of India
Need to track green hydrogen utilisation: MNRE secretary
India is preparing a plan to track utilisation of green hydrogen and build global partnerships for export ing the fuel, Secretary Ministry of New and Renewable Energy Santosh Kumar Sarangi said Thursday. Speaking at the CII International Business Conclave on Green Hydrogen, he said traceability of green hydrogen utilisation is very important. He also said concessions for green hydrogen export will be part of India's deliberations in trade agreements. According to the secretary, one is not currently able to decipher whether steel was made using grey or green hydrogen once production is complete. 'Having traceability and trackability (of green hydrogen utilisation) is important,' Sarangi said. Steel is among the sectors where a push is being made for decarbonisation across the world since it accounts for roughly 10 per cent of global emissions. Sarangi said deliberations are underway with green hydrogen producers to finalise measures for identifying, tracing, and tracking the final product, which is made using green hydrogen. These efforts are in line with India's National Green Hydrogen Mission launched in January 2023, with Rs 19,744 crore outlay. The overarching objective of the mission is to make India a global hub for production, usage, and export of green hydrogen and its derivatives, by targeting 5 million tonnes production per annum by 2030. The secretary said the government is working towards collaborating with stakeholders in these aspects. 'We are in discussions with Europe, the Port of Rotterdam, and Port of Antwerp to ensure that Green Hydrogen exported to these countries has the right transmission lines,' he said. Responding to queries at the sidelines, Sarangi said green hydrogen exports and favourable terms for domestic producers will be part of India - European Union Free Trade Agreement negotiations. Wind speed forecasts in question Speaking to ET on the sidelines of the event, Sumant Sinha, Chairman and CEO, ReNew said wind forecasts are not as reliable, affecting project output. Sinha heads the CII National Council on Energy Transition & Hydrogen. He was responding to a query on the status of round-the-clock ( RTC ) renewable energy projects in the country and the reforms needed. 'The wind speeds are a lot lower than had been forecast earlier, leading to under generation from a lot of the wind projects,' Sinha said. RTC projects generally use a mix of solar, wind, and battery storage to ensure continuous supply of clean energy. According to Sinha, wind forecasts are not turning out to be accurate, leading to wind turbine-based generation projects underperforming. ReNew has India's largest wind portfolio of 4.7 GW, representing 10.5 percent of India's total wind energy capacity. 'Now because we have history and because we have all these wind turbines installed all across the country, we are able to see that and so we are making adjustments for future generation forecasts,' he said.
Time of India
3 days ago
- Business
- Time of India
Need to track green hydrogen utilisation: MNRE secretary
India is preparing a plan to track utilisation of green hydrogen and build global partnerships for exporting the fuel, Secretary Ministry of New and Renewable Energy Santosh Kumar Sarangi said Thursday. Speaking at the CII International Business Conclave on Green Hydrogen, he said traceability of green hydrogen utilisation is very important. He also said concessions for green hydrogen export will be part of India's deliberations in trade agreements. According to the secretary, one is not currently able to decipher whether steel was made using grey or green hydrogen once production is complete. 'Having traceability and trackability (of green hydrogen utilisation) is important,' Sarangi said. Steel is among the sectors where a push is being made for decarbonisation across the world since it accounts for roughly 10% of global emissions. Sarangi said deliberations are underway with green hydrogen producers to finalise measures for identifying, tracing, and tracking the final product, which is made using green hydrogen. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Indian Truck Driver Now Earns ₹2.9 Crore Monthly (See how) prestigetrophy Learn More Undo These efforts are in line with India's National Green Hydrogen Mission launched in January 2023, with Rs 19,744 crore outlay. The overarching objective of the mission is to make India a global hub for production, usage, and export of green hydrogen and its derivatives, by targeting 5 million tonnes production per annum by 2030. The secretary said the government is working towards collaborating with stakeholders in these aspects. 'We are in discussions with Europe, the Port of Rotterdam, and Port of Antwerp to ensure that Green Hydrogen exported to these countries has the right transmission lines,' he said. Responding to queries at the sidelines, Sarangi said green hydrogen exports and favourable terms for domestic producers will be part of India - European Union Free Trade Agreement negotiations. Live Events Wind speed forecasts in question Speaking to ET on the sidelines of the event, Sumant Sinha, Chairman and CEO, ReNew said wind forecasts are not as reliable, affecting project output. Sinha heads the CII National Council on Energy Transition & Hydrogen. He was responding to a query on the status of round-the-clock (RTC) renewable energy projects in the country and the reforms needed. 'The wind speeds are a lot lower than had been forecast earlier, leading to under generation from a lot of the wind projects,' Sinha said. RTC projects generally use a mix of solar, wind, and battery storage to ensure continuous supply of clean energy. According to Sinha, wind forecasts are not turning out to be accurate, leading to wind turbine-based generation projects underperforming. ReNew has India's largest wind portfolio of 4.7 GW, representing 10.5 percent of India's total wind energy capacity. 'Now because we have history and because we have all these wind turbines installed all across the country, we are able to see that and so we are making adjustments for future generation forecasts,' he said.
Mint
6 days ago
- Business
- Mint
ReNew's profit surges fivefold to ₹313.7 crore in Q4
New Delhi: Nasdaq-listed ReNew Energy Global Plc on Monday reported a fivefold year-on-year jump in its profit in the quarter ended March. The net profit for the fourth quarter of FY25 stood at ₹ 313.7 crore ($37 million) compared with ₹ 60.9 crore ($7 million) a year earlier, according to the company's filing to the US Securities and Exchange Commission. The increase was primarily 'driven by higher operating revenues, external sales from our module and cell manufacturing operations, and lower tax incidence, partially offset by higher scale linked financing costs & depreciation, including costs attributable to external sales from our module and cell manufacturing operations, and lower resource availability," the filing said. ReNew Energy's total income during the period under review was ₹ 3,439.1 crore, nearly 39% higher than ₹ 2,477.6 crore a year earlier. The total revenue includes external sales from the module and cell manufacturing operations worth ₹ 991.4 crore. For the financial year 2024-25, the company reported a total income of ₹ 10,907 crore, compared with ₹ 9,653.1 crore in FY24. As of 31 March 2025, ReNew Energy said its portfolio comprised 17.3 gigawatts (GW) of green energy capacity, compared to 13.5 GW a year earlier. In the ongoing financial year (FY26), the company has signed 1.2 GW of power purchase agreements, taking the total portfolio to 18.5 GW along with a 1.1 GWh battery energy storage system. In addition, the company has 6.5 GW of solar module manufacturing and 2.5 GW of cell manufacturing. On the proposed delisting, the company said that a special committee led by Manoj Singh, the lead independent director and comprising six independent non-executive ReNew directors, would consider the non-binding proposal and the active discussions are ongoing with the consortium of Abu Dhabi Future Energy Company PJSC-Masdar, Canada Pension Plan Investment Board, Platinum Hawk C 2019 RSC Ltd (trustee for the Platinum Cactus A 2019 Trust, a wholly owned subsidiary of the Abu Dhabi Investment Authority), and Sumant Sinha, the founder, chairman and CEO of ReNew. The consortium had offered to acquire the listed shares of ReNew. On 11 December 2024, the company announced that it had received the non-binding proposal to acquire the entire share capital not already owned by members of the consortium for $7.07 per share. The special committee has retained an independent financial advisor, Rothschild & Co, and independent legal counsel Linklaters LLP, the statement said. 'Active discussions with the Consortium are ongoing and the Special Committee will provide an update to the market on the outcome as soon as reasonably practicable."
Time of India
6 days ago
- Business
- Time of India
ReNew Energy Q4 net profit soars 415% to ₹313.7 crore
ReNew Energy Global Plc (ReNew), a global decarbonisation firm , reported a 415 per cent surge in its consolidated net profit for the March quarter (Q4), reaching ₹313.7 crore. It had reported a net profit of ₹60.9 crore in the same period last year. The growth was driven by higher revenues, including substantial income from its new manufacturing ventures . The Nasdaq-listed company reported its total income for the Q4 2025 at ₹3,439.1 crore, a sharp rise from ₹2,477.6 crore in the corresponding quarter of the previous year. A major contributor to this was the external sale of ₹991.4 crore from its module and cell manufacturing operations, a new revenue stream for the company. Revenue from the core business of power sales also saw an increase, climbing to ₹1,829.4 crore from ₹1,690.8 crore in Q4 FY24. For the full financial year 2024-25, ReNew posted a net profit of ₹459.1 crore, up from ₹414.7 crore in FY24. The total annual income reached ₹10,907 crore, compared to ₹9,653.1 crore a year ago. This annual figure includes ₹1,337.3 crore from the external sales of its manufacturing division. ReNew has significantly expanded its clean energy portfolio , which now stands at a gross 18.5 GW as of June 16, 2025, from 17.3 GW at the end of the fiscal year on March 31, 2025. It has signed 1.2 GW of new Power Purchase Agreements (PPAs) since the fiscal year ended. Its commissioned capacity also grew by 12.4 per cent year-on-year, reaching 10.7 GW by March 31, 2025. The company expects to complete the construction of an additional 1.6 to 2.4 GW of capacity by the end of FY2026.
