Renew Energy Global Plc Stock Price, News & Analysis

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.

ReNew, India's leading renewable energy company, (NASDAQ: RNW), signed five Power Purchase Agreements (PPAs) totaling ~2.2 GW, expanding its renewable energy portfolio to 15.6 GW. The company also received Letter of Awards for an additional ~5.8 GW. ReNew's commitment to India's renewable energy goals is evident in these significant agreements, contributing to a cleaner future and financial benefits for the company and its shareholders.