Latest news with #ReNewEnergyGlobalPlc
Mint
7 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
16-06-2025
- 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.
Mint
16-06-2025
- 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." The statement said the ReNew executive management's primary focus will be to continue to ensure the effective management of the company, in addition to helping evaluate the process as required by the special committee.
United News of India
17-05-2025
- Business
- United News of India
ReNew to set up INR 22k Cr hybrid renewable energy project in Andhra Pradesh
Anantapur (Andhra Pradesh), May 16 (UNI) ReNew Energy Global Plc ('ReNew'), a leading decarbonisation solutions company, on Friday announced it will invest INR 22,000 crore (US $2.5 billion) to set up one of India's largest hybrid renewable energy projects in the district. With a generation capacity of around 2.8 GW, including 1.8 GWp solar and 1 GW wind, and a battery energy storage system (BESS) of 2 GWh, this will be one of the largest RE complexes at a single location in India, the company claimed in a release here. Andhra Pradesh Minister for Information Technology, Nara Lokesh, laid the foundation stone for the project in the presence of Sumant Sinha, Founder, Chairman, and CEO, ReNew. In the project's first phase, ReNew will set up 587 MWp solar and 250 MW wind energy capacity, along with a 415 MWh BESS, for which PPAs have already been signed. The rest of the capacity will be developed in subsequent phases. With a large BESS to be installed, the project will be able to supply power for up to 4 peak hours every day (non-RE generating hours), which will help the off-takers with peak demand management and enable renewable energy to be more firm and dispatchable. Aligned with the Make in India mission, the project will be made up of 100% Made-in-India solar panels supplied from ReNew's solar manufacturing units in Jaipur, Rajasthan, and Dholera, Gujarat. Additionally, it will use state-of-the-art solar tracking systems to maximise the generation, and waterless robotic cleaning for solar panels that will enable considerable savings of water. Commenting on the development, the Minister said, 'This project is directly aligned with Andhra Pradesh's Integrated Clean Energy Policy and contributes to India's 500 GW non-fossil fuel goal by 2030. This project is a testament to Andhra Pradesh's resurgence as a national leader in clean energy. We are building not just capacity, but also credibility and global investor confidence'. 'I commend ReNew for this project and would look forward to more such investments in the future,' the Minister added. Sumant Sinha said, 'The state of Andhra Pradesh presents an attractive mix of investor-friendly policies, excellent transmission connectivity, and abundant availability of solar and wind resources. We are highly optimistic about developing large-scale renewable energy capacity in the state to contribute to the Prime Minister's commitment of achieving the target of 500 GW non-fossil fuel electricity generation capacity by the year 2030.' ReNew has a portfolio of 717 MW of operational wind capacity and 60 MW of solar capacity spread over 10 sites in Andhra Pradesh. The company is dedicated to promoting clean energy-led growth in the state, and with this project, it will generate 1,500 direct and indirect jobs as it works in tandem with the government towards the state's target of generating 78.5 GW of solar, 35 GW of wind power capacity, and 25 GWh of battery energy storage, Sumant added. UNI KNR GNK
Mint
16-05-2025
- Business
- Mint
ReNew to invest ₹22,000 cr for 2.8 GW hybrid RE project in Andhra Pradesh
NEW DELHI : Nasdaq-listed ReNew Energy Global Plc on Friday announced an investment of ₹22,000 crore to set up a hybrid renewable energy project in Andhra Pradesh. The 2.8 GW project including 1.8 gigawatt of solar, 1 GW wind, and a battery energy storage system (BESS) of 2 gigawatt hour (GWh) will be set up in Andhra Pradesh's Anantapur district. Nara Lokesh, the minister for information technology, electronics & communications, real-time governance and human resources development of Andhra Pradesh, laid the foundation stone for the project during the day in the presence of Sumant Sinha, founder, chairman, and CEO of ReNew. Also Read: How energy storage can make renewables work for Indian commercial enterprises In the project's first phase, ReNew will set up 587 Megawatt-peak (MWp) solar and 250 Megawatt (MW) wind energy capacity, along with a 415 Megawatt hour (MWh) BESS, for which power purchase agreements (PPAs) have already been signed. The rest of the capacity will be developed in subsequent phases. "With a large BESS to be installed, the project will be able to supply power for up to 4 peak hours every day (non-RE generating hours), which will help the off-takers with peak demand management and enable renewable energy to be more firm and dispatchable," the statement said, adding that the project will be made up of solar panels manufactured in ReNew's manufacturing units in Jaipur, Rajasthan, and Dholera, Gujarat. Aiding India's 2030 clean energy goal 'This project is directly aligned with Andhra Pradesh's Integrated Clean Energy Policy and contributes to India's 500 GW non-fossil fuel goal by 2030," the minister said. Also Read: Fortum to sell majority stakes in renewable, EV charging businesses in India Sinha said that Andhra Pradesh presents an attractive mix of investor-friendly policies, excellent transmission connectivity, and abundant availability of solar and wind resources. "We are highly optimistic about developing large-scale renewable energy capacity in the state to contribute to the hon'ble prime minister's commitment of achieving the target of 500 GW non-fossil fuel electricity generation capacity by the year 2030," Sinha added. ReNew has a portfolio of 717 MW of operational wind capacity and 60 MW of solar capacity spread over 10 sites in Andhra Pradesh. As of 14 February, its gross clean energy portfolio stood at 17.4 GW. Also Read: 25GW of renewable energy capacity installed in FY25: Pralhad Joshi Earlier this month, it received an investment of $100 million from British International Investment (BII) for its solar module and cell manufacturing subsidiary ReNew Photovoltaics Ltd, valuing the unit at $1 billion.
