Renew Energy Global Plc Stock Price, News & Analysis

ReNew Energy Global plc (NASDAQ: RNW) has secured a $1 billion loan from a consortium of 12 international lenders, marking the largest single project financing in India's renewable sector. The oversubscribed loan, coming at competitive pricing, will fund a 1,300-MW hybrid Round-the-Clock (RTC) battery-enabled project across Karnataka, Rajasthan, and Maharashtra. ReNew's partnership with the Solar Energy Corporation of India includes a Power Purchase Agreement at ₹2.90 per unit, increasing 3% annually for 15 years. This reflects global lenders' confidence in ReNew's growth and financial stability.

ReNew Energy Global plc, a leading renewable energy company in India, will release its first quarter fiscal year 2023 earnings report on August 18, 2022, after market close. A conference call to discuss the results is scheduled for August 19, 2022, at 8:30 a.m. ET (6:00 p.m. IST). ReNew has a total capacity of 12.8 GW of renewable energy projects in India, as of June 30, 2022. Investors can access the earnings call live and view the audio replay through the ReNew Investor Relations website.

ReNew Energy Global Plc (NASDAQ: RNW) has filed its annual report on form 20-F for the fiscal year ending March 31, 2022, with the U.S. Securities and Exchange Commission. This report provides comprehensive insights into the company's financial position and operations in the renewable energy sector. As of June 30, 2022, ReNew's total portfolio comprises approximately 12.8 GW of renewable energy projects across India. Shareholders can request hard copies of the report at no charge through the company's Investor Relations.

ReNew Energy Global plc (Nasdaq: RNW, RNWWW) reported its Q4 FY22 and FY22 results, noting a 27% revenue growth to INR 69,195 million (US$ 912 million). Q4 FY22 revenue rose 31.1% to INR 17,615 million (US$ 232 million). Adjusted EBITDA for FY22 increased 31.7% to INR 55,144 million (US$ 727 million). However, the company posted a net loss of INR 16,127 million (US$ 213 million) compared to a loss of INR 8,033 million (US$ 106 million) in FY21. Cash Flow to Equity from Operating Assets was positive at INR 12,888 million (US$ 170 million) for FY22 but negative for Q4 FY22 at INR 5,016 million (US$ 66 million).

ReNew Energy Global plc (NASDAQ: RNW, RNWWW) will release its fourth quarter earnings report for FY22 on June 14, 2022, after market close. A conference call to discuss the results is scheduled for June 15, 2022, at 8:30 AM EDT. ReNew is a leading renewable energy company in India, with a portfolio of approximately 12.8 GW of renewable energy projects as of May 31, 2022. Investors can access the conference call via phone or live stream.

ReNew Power has signed definitive agreements to acquire 527.9 MW of operating wind and solar assets, boosting its portfolio to 12.8 GW from 10.2 GW. The total enterprise value of the agreements is approximately ₹30 billion (US$388 million), with expected FY23 EBITDA between ₹3.95-4.24 billion (US$51-55 million). Additionally, ReNew inked a Power Purchase Agreement with MSEDCL for a 200 MW solar project at a rate of ₹2.43/kWh over 25 years. These moves position ReNew at the forefront of India's clean energy transition amid increasing energy demands.

ReNew Power has announced the appointment of Kedar Upadhye as Group CFO, Vikash Jain as Global General Counsel, and Vikram Kapur as Chief Growth Officer. These leaders bring rich experience aimed at bolstering the company's expansion in renewable energy sectors, including green hydrogen. The total portfolio increased to approximately 12.1 GW, up nearly 20% since early 2022, driven by Power Purchase Agreements and strategic partnerships. The leadership hires are expected to support ReNew's ambitious growth plans while strengthening governance and operational efficiency.

ReNew Power has signed significant solar Power Purchase Agreements (PPAs) totaling around 2 GW, including 1.5 GW with SECI and 0.5 GW with corporate buyers. This expands the company's portfolio to approximately 12.1 GW, a notable increase from 10.2 GW earlier in the year. The utility projects are primarily located in Rajasthan, with electricity tariffs set at ₹2.18 to ₹2.37/kWh. Corporate agreements include partnerships with major firms, raising ReNew's corporate portfolio over 900 MW. The projects are expected to be operational by Q4 2023.

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.