Page 4 - Renew Power

ReNew expects to commission 10.2 GW renewable energy capacity by FY23

Renewable energy firm ReNew Power is looking to commission its 10.2 gigawatt (GW) capacity by financial year 2022-23. In a statement on Tuesday, ReNew said it also expects to generate an annual EBITDA (earnings before interest, taxes, depreciation, and amortization) of USD 1.1-1.2 billion with the commissioning of the 10.2 GW capacity. "ReNew expects to have its 10.2 GW portfolio operational by the end of FY23 which also includes 3.8 GW of committed capacity i.e. which has a PPA/LOA (Power Purchase Agreements/Letter of Award) or for which the company has a binding acquisition agreement "This capacity is expected to generate an annual EBITDA of USD 1.1 billion - 1.2 billion, double of USD 578 million in FY21," the company said. It further said it aims to have 18 GW of RE capacity by 2024-25, from the 6.4 GW operating at present. "As India sets its sight on achieving 450 GW of installed clean energy capacity by 2030, ReNew will be a leading catalyst of this transition from fossil-ba

ReNew Power commissions 250 MW solar project in Rajasthan's Jaisalmer

ReNew Power on Thursday announced that it has commissioned a 250 MW solar project in Jaisalmer district, Rajasthan.

ReNew Power seals merger with RMG II, shares trade on Nasdaq from Tuesday

Overseas companies use merger route to list on Nasdaq as it grants them access to American capital which would otherwise be limited to firms incorporated in the US

ReNew Power to list on Nasdaq this month, RMG investors approve merger

ReNew is looking to be fully funded for its equity requirements till fiscal year 2025 through this listing

Climate Group appoints Sumant Sinha as trustee on UK board for 3 years

London-based Climate Group announced the appointment of Sumant Sinha, chairman and managing director of domestic renewable energy company ReNew Power, as a trustee on its UK board for three years

ReNew Power enters hydro sector, acquires Larsen & Toubro unit

As part of the deal with L&T, ReNew will take over L&T Utta­ranchal Hydropower, whi­ch owns the Singoli-Bhatwari Hydroelectric Project (SBHEP), from L&T Power Development

L&T sells Singoli-Bhatwari hydro project to Renew Power for Rs 985 cr

Larsen & Toubro on Wednesday announced divestment of 100 per cent stake in 99 megawatt run-of-the-river hydroelectric power plant owned by its subsidiary L & T Uttaranchal Hydropower Ltd (LTUHPL) to Renew Power Services Pvt Ltd.This is in line with the declared L & T focus of divesting non-core assets and improving shareholder value. The transaction is subject to completion of customary closing conditions and closing is expected to take place before September 30.The sale consideration is Rs 985 crore, L & T said in a statement."This development is a significant step in our effort to unlock the value of some of our power development assets to streamline and allocate capital to create long-term value for our shareholders," said Whole-time Director D K Sen."It represents our strategic effort to increase focus on our core strengths and exit others to move towards becoming a more asset-light organisation."Sumant Sinha, Founder, Chairman and CEO of ReNew Power, said given .

ReNew Power to invest $1.2 bn for country's 1st round-the-clock RE project

The project will be designed to operate at an 80% average annual PLF and will have a minimum capacity utilisation factor of 70% monthly, despite being a renewable energy project, says ReNew Power

ReNew Power SPAC: RMG Acquisition Corp shareholders' vote in August

Firm to list on NASDAQ at $8 billion valuation

ReNew Power signs pact with RackBank for renewable energy for data centre

ReNew Power said it has signed a memorandum of understanding with RackBank Datacenters Ltd to power the country's first hyper-scale data centre with 100 per cent renewable energy.

ReNew Power to bet on Solar PLI scheme, plans manufacturing foray

Firm is among top-5 renewable energy players in India with a solar and wind power portfolio of 9.8 Gw of commissioned and under construction capacity

Capex pace, receivables to drive ratings of Indian renewable holdcos: Fitch

Capex intensity and the pace of receivables collection from distribution companies will dictate ratings trajectory for Greenko Energy Holdings and ReNew Power, Fitch Ratings has said in a new report

ReNew Power merger with blank-check company RMG II gets CCI nod

The proposed merger of ReNew Power with blank-check company RMG Acquisition Corporation II (RMG II) has received clearance from the Competition Commission.

ReNew Power's subsidiaries list $585 million FCBs on India INX

The 7.25 bonds have been assigned ratings of BB- (Positive Outlook) by Fitch and Ba3 by Moody's investor services and are priced competitively at 4.5%

Carbon emissions: ReNew Power set to become a Net Zero company by 2050

The company said this aligns with the 'Race To Zero' campaign, a global alliance committed to achieving net zero carbon emissions

ReNew Power lines up $9 billion over 4 years in India's green push

The company plans to triple capacity to 18.5 Gw by 2025

Moody's assigns Ba3 to Renew Power's new RG5 senior secured notes

Moody's Investors Service has assigned Ba3 rating to the proposed 7.25-year USD senior secured notes of up to 620 million dollars to be issued by a newly-formed restricted group of ReNew Power Pvt Ltd

ReNew Power plans to raise $575 million in green bonds this year

Such fundraising by Indian companies has hit close to $5 billion in 2021 so far

ReNew commissions 300-Mw wind power project in Kutch district of Gujarat

ReNew's total wind energy capacity in Gujarat increased to 950 Mw

Indian renewable firms underperformed but credit quality intact: Moody's

Moody's said India's renewable energy sector grew by 20% in the last five years