ReNew Energy Global plc - RNW STOCK NEWS

ReNew Energy Global Plc (Nasdaq: RNW, RNWWW) announced its Q1 FY25 results, highlighting a 24% year-over-year increase in operating capacity. The company's portfolio grew to ~15.6 GWs, with ~9.6 GWs commissioned and ~6.0 GWs committed. Revenue for Q1 FY25 reached INR 22,811 million (US$ 274 million), up from INR 21,250 million in Q1 FY24. However, net profit decreased to INR 394 million (US$ 5 million) from INR 2,983 million in the previous year. Adjusted EBITDA slightly improved to INR 18,979 million (US$ 228 million). ReNew reiterated its FY25 guidance, expecting to complete 1,900 to 2,400 MWs of construction and projecting Adjusted EBITDA of INR 76 – 82 billion and Cash Flow to Equity of INR 12 – 14 billion.

ReNew Energy Global plc (NASDAQ: RNW, RNWWW), India's leading renewable energy company, has announced the release date for its first quarter fiscal year 2025 earnings report. The report will be issued after the close of Nasdaq on August 15, 2024. A conference call to discuss the results is scheduled for August 16, 2024, at 8:30 AM ET (6:00 PM IST).

Investors and analysts can access the conference call live via webcast or by phone. International toll-free numbers are provided for various countries. An audio replay of the call will be available on ReNew's investor relations website following the event.

ReNew Energy Global Plc (NASDAQ: RNW), India's leading decarbonization solutions provider, has released its first Annual Integrated Report for FY 2023-24. The report, titled 'Innovating Clean Energy Solutions', aligns with the International Integrated Reporting Council Framework and the EU taxonomy, with 97.79% of capital expenditure aligned with this classification. Key highlights include:

- Crossed 10 GW set up cumulative capacity
- Recorded a net profit of INR 4,147 million (US$ 50 million)
- Mitigated 16 million tonnes of CO2e, accounting for ~0.6% of India's total carbon emissions
- Achieved carbon neutrality for Scope 1 and 2 emissions for the fourth consecutive year
- 40% gender diversity at the Board level
- 358 million liters of water saved, a ~13% increase YoY
- Certified as a 'Great Place to Work' for the fourth consecutive year

ReNew aims to double its aggregate portfolio to ~21 GW in the next five years, focusing on expanding its footprint in India and select emerging markets globally.

ReNew Energy Global Plc (NASDAQ: RNW, RNWWW) has announced its third Annual General Meeting (AGM) scheduled for September 20, 2024 in London, UK. The AGM will address four key resolutions: receiving the annual reports and accounts, approving the directors' remuneration report, re-appointing KNAV as auditors, and authorizing the Board and Audit Committee to determine auditor remuneration. Only shareholders of record as of August 8, 2024 will be eligible to attend and vote. The AGM notice and annual reports are expected to be published around August 12, 2024, and will be available on ReNew's investor relations website.

ReNew Energy Global Plc (NASDAQ: RNW, RNWWW), a leading renewable energy company, has filed its annual report on Form 20-F for the financial year ended March 31, 2024, with the U.S. Securities and Exchange Commission (SEC). This important financial document is now accessible to investors and the public through multiple channels:

1. ReNew's Investor Relations website: https://investor.renew.com
2. SEC's official website: www.sec.gov

In a move to ensure transparency and accommodate shareholder preferences, ReNew has announced that it will provide hard copies of these documents free of charge to all shareholders upon request.

Sumant Sinha, Chairman and CEO of ReNew, has been appointed Co-Chair of the Alliance of CEO Climate Leaders, the world's largest CEO-led climate alliance and a World Economic Forum initiative. Sinha joins a group of influential leaders from top global companies, representing $4 Trillion in revenues and 5.2 GT of carbon emissions.

ReNew, a member of the Alliance since 2019, is committed to net-zero targets and innovative decarbonization solutions. The company aims to be net zero by 2040 and has mitigated over 21 million tons of carbon emissions in the past two years. With a portfolio of 21.4 GW, ReNew is pioneering solutions such as innovative PPAs, solar module manufacturing, carbon markets, power trading, and energy storage.

Sinha's appointment is expected to bring valuable insights into energy transition in emerging and developing economies, furthering the Alliance's global impact.

ReNew Energy Global reported its unaudited financial results for Q4 FY24 and the full fiscal year ended March 31, 2024. The company’s portfolio stood at ~13.5 GWs as of March 2024, with ~9.5 GWs generating revenue. For FY24, ReNew's total revenue was INR 96,531 million (US$ 1,158 million), up from INR 89,309 million (US$ 1,072 million) in FY23. The net profit for FY24 was INR 4,147 million (US$ 50 million), compared to a net loss of INR 5,029 million (US$ 60 million) in FY23. Adjusted EBITDA for FY24 was INR 69,216 million (US$ 831 million), and Cash Flow to Equity was INR 13,665 million (US$ 164 million).

For Q4 FY24, total revenue was INR 24,776 million (US$ 297 million). The net profit for Q4 FY24 was INR 609 million (US$ 7 million). Adjusted EBITDA for Q4 FY24 was INR 16,810 million (US$ 202 million). ReNew provided guidance for FY25, including an Adjusted EBITDA of INR 76-82 billion and CFe of INR 12-14 billion. The company expects a gross operating capacity of 15-16 GWs by FY27 and 19-20 GWs by FY29.

ReNew Energy Global (NASDAQ: RNW, RNWWW), India's leading renewable energy company, will release its Q4 and fiscal year 2024 earnings after the Nasdaq closes on June 05, 2024. The company will host a 90-minute conference call at 8:00 AM EDT (5:30 PM IST) on June 06, 2024, to discuss business trends and future outlook. The call is accessible via live stream and phone across multiple countries. Details for accessing the call and the subsequent audio replay are available on ReNew's investor relations website.

ReNew, a leading renewable energy company (NASDAQ: RNW), has signed a Memorandum of Understanding (MoU) with Societe Generale to finance and develop strategic energy transition projects in India and globally.

The MoU outlines up to USD 1 billion in support over the next three years, focusing on debt financing and advisory solutions.

Both parties will leverage their expertise to advance large-scale energy projects, including solar, wind, complex renewables, green hydrogen, energy storage, and solar module manufacturing.

This collaboration aims to accelerate the deployment of renewable energy projects and contribute to India's net-zero goals.