Welcome to our dedicated page for Renew Energy Global news (Ticker: RNW), a resource for investors and traders seeking the latest updates and insights on Renew Energy Global stock.
ReNew Energy Global plc reports developments from its renewable power and decarbonization business in India, where it develops and operates wind, solar, battery energy storage, hydro power and transmission assets. News commonly covers earnings releases under IFRS, capacity commissioning, project sales, battery storage additions and updates to its solar module and solar cell manufacturing operations.
The company also announces commercial and industrial clean-power agreements through ReNew Green, equity investments in operating platforms, and customer relationships with large corporate offtakers. Its updates identify ReNew as a Nasdaq-listed issuer under the RNW common share and RNWWW warrant symbols.
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.
ReNew Energy Global Plc. (NASDAQ: RNW) will host a virtual Capital Markets Day on October 12, 2021, from 8:30 am to 10:00 am EDT. The leadership team, including Sumant Sinha, D. Muthukumaran, and Vaishali Nigam Sinha, will present the company's strategies for value creation and growth, followed by a Q&A session. Interested individuals can join via webcast or phone. As of August 31, 2021, ReNew operates approximately 10.2 GW of renewable energy projects in India, making it one of the largest Independent Power Producers in the country.
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ReNew Power has successfully commissioned 250 MW of its 300 MW solar generation project in Rajasthan, India. The project, which is part of the Interstate Transmission System (ISTS) and secured through SECI's auction, will provide clean electricity at a rate of INR 2.55/kWh. ReNew expects the remaining 50 MW to be operational soon. This initiative is projected to create around 600 direct jobs and aligns with India's goal of achieving 450 GW of renewable capacity by 2030. This marks the first project initiated after ReNew's listing on NASDAQ under the ticker RNW.
ReNew Power has successfully completed its business combination with RMG Acquisition Corporation II, receiving $610 million in net proceeds. The transaction was approved with 88% shareholder support. ReNew, now a wholly owned subsidiary, operates over 10 GW of renewable energy projects and is positioned to expand its market presence amidst India's growing demand for green energy. The company will trade on Nasdaq under the symbols RNW and RNWWW starting August 24, 2021. Management emphasizes a focus on expanding clean power and leveraging technology for growth in the renewable sector.