ReNew Energy Global press release (NASDAQ: RNW ): Q2 Total Income was INR 28,632 million (US$ 345 million), compared to INR 22,409 (US$ 270 million) for Q2 FY23. Net profit for Q2 FY24 was INR 3,771 million (US$ 45 million) compared to a net loss of INR 986 million (US$ 12 million) for Q2 FY23. The company is raising the lower end of our FY24 Adjusted EBITDA guidance range by 3% and continue to expect to complete construction of between 1,750 to 2,250 MWs by the end of Fiscal Year 2024.

ReNew Energy Global reports Q2 results

Signing between the Climate Investment Fund, ReNew and KLP in India the 15th of November 2023. Image by Norfund (www.norfund.no)
Indian renewable energy company ReNew ( NASDAQ:RNW ) on Thursday said it has commissioned its first interstate transmission project which will support the transmission of 1,500 MW of renewable energy in the Koppal area of the southern state of Karnataka. Koppal Transmission Scheme is one of three transmission projects the company has won in Karnataka under the inter-state transmission scheme (ISTS) so far, intended to transmit 5,000 MW of wind and solar power. The remaining transmission for 3,500 MW is expected to be completed by June 2024, according to the announcement. The commissioning follows an investment by the Norwegian government's Norfund and pension company KLP. A second joint investment between the parties was signed on Wednesday, with Norfund and KLP committing around USD 9 million (EUR 8.3m) for a 49% stake in the second project in Gadag district in Karnataka, ReNew said. “Through this second investment and our partnership with Renew, we are pleased to be able to contribute to the connection of another 2.5 GW of planned renewable power to the national grid,” said Bjornar Baugerud, head of the Climate Investment Fund at Norfund. Anne Beathe Tvinnereim, Norway’s Minister of International Development, said the deal is an example of public funding mobilising private capital for the energy transition and also shows how Norwegian investments are supporting India’s goal of 500 GW of non-fossil capacity by 2030. Kailash Vaswani, chief financial officer of ReNew Private Limited, commented that the investments in the transmission sector are complementary to the company’s core renewable energy portfolio as they improve the certainty of connecting ReNew’s large renewable energy development projects. (USD 1 = EUR 0.922)

ReNew commissions transmission project, gets fresh Norwegian funds

RENEW ENERGY GLOBAL PLC
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ReNew Energy Global Plc is a United Kingdom-based company. The Company is a utility-scale renewable energy solutions providers in India. It operates wind, solar, and hydro energy projects. It provides clean energy solutions and value-added energy offerings through digitalization, storage, and carbon market services. It carries out business activities relating to the generation of power through non-conventional and renewable energy sources through ReNew Power Private Limited and its subsidiaries. It has primarily two reportable segments, namely wind power and solar power. Its wind power segment operates utility-scale wind energy projects in India and solar power segment operates its utility-scale and distributed solar energy projects in India. Other operations of the Company primarily include the sale of electricity from Hydro power and construction and maintenance of transmission lines. It offers a total commissioned capacity of 7.98 GW and an additional 5.72 GW of committed capacity. Sector

ReNew Announces Date and Conference Call Details for Q2 FY 24 Earnings Report

ReNew Releases Third Sustainability Report: Driving Decarbonisation
November 09, 2023 at 07:35 am EST
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ReNew’s net-zero targets by 2040 validated by SBTi~14.1 million tons of carbon emissions avoided during FY 2022–23, ~400 times its Scope 1 and 2 emissions318,708 kiloliters of water saved during FY23, a 48% year-on-year increase17,385 GWh of clean energy produced during FY23, enough to power 5 million Indian households annually40% gender diversity of Board members1mn+ lives benefited through CSR programmes, across 500+ villages
ReNew Energy Global Plc ("ReNew") (Nasdaq: RNW, RNWWW), India’s leading renewable energy company and a preferred decarbonisation partner, today released its Sustainability Report for FY22-23, titled ‘Driving Decarbonisation’. The report outlines ReNew’s vital role in India’s energy transition. The company has been striving tirelessly towards strengthening India’s energy and climate security since it was founded in 2011, and has quadrupled its operational capacity since 2017. The report reveals that operations were carbon neutral for the third consecutive year. As a responsible business, ReNew has also been working continuously with local communities and is implementing a range of sustainable, replicable, and scalable programmes that create measurable socioeconomic and ecological benefits. Through these initiatives the company has benefited over one million individuals in 500 villages and 10 states across India. Vaishali Nigam Sinha, Co-Founder and Chairperson - Sustainability, ReNew. said: “We measure the true value and success of our business by our financial performance and our environmental, social and governmental impact. We have set ambitious and measurable goals in each of these areas, such as reducing our carbon footprint, enhancing our social contribution, and promoting inclusivity and diversity in our workforce. We are committed to supporting the United Nations’ Sustainable Development Goals (SDGs), which guide our efforts to address the most pressing challenges facing humanity. We believe that sustainability is not only a responsibility but also an opportunity to innovate and transform our business for the better.”
The FY22-23 Sustainability Report can be found at www.renew.com/disclosures-and-reporting
Notes to Editors
About the report:
The ‘Driving Decarbonisation’ sustainability report was prepared in line with best practice as outlined by global standards including the Global Reporting Initiative (GRI) Standards, Sustainability Accounting Standards Board (SASB), Task Force on Climate-related Disclosures (TCFD), United Nations Global Compact’s 10 Principles and UN Women Empowerment Principles. It was verified and audited by a reputed third-party auditor as per the International Standard on Assurance Engagements (ISAE -3000). About ReNew
ReNew is India’s leading decarbonisation solutions company listed on Nasdaq (Nasdaq: RNW, RNWWW). ReNew's clean energy portfolio of approximately 13.7GW on a gross basis as of June 30, 2023, is one of the largest globally. In addition to being a major independent power producer in India, ReNew provides end-to-end solutions in a just and inclusive manner in the areas of clean energy, value-added energy offerings through digitalisation, storage, and carbon markets that increasingly are integral to addressing climate change. For more information, visit renew.com and follow us on LinkedIn, Facebook, Twitter and Instagram. View source version on businesswire.com: https://www.businesswire.com/news/home/20231109632573/en/
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ReNew Energy Global Plc is a United Kingdom-based company. The Company is a utility-scale renewable energy solutions providers in India. It operates wind, solar, and hydro energy projects. It provides clean energy solutions and value-added energy offerings through digitalization, storage, and carbon market services. It carries out business activities relating to the generation of power through non-conventional and renewable energy sources through ReNew Power Private Limited and its subsidiaries. It has primarily two reportable segments, namely wind power and solar power. Its wind power segment operates utility-scale wind energy projects in India and solar power segment operates its utility-scale and distributed solar energy projects in India. Other operations of the Company primarily include the sale of electricity from Hydro power and construction and maintenance of transmission lines. It offers a total commissioned capacity of 7.98 GW and an additional 5.72 GW of committed capacity. Sector

ReNew Releases Third Sustainability Report: Driving Decarbonisation

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Renew Power’s Chairman and CEO, Sumant Sinha announced on Monday that the company intends to invest approximately Rs 44,000 crore by the end of fiscal year 2025-26, with the goal of adding up to 9 gigawatts (GW) of additional capacity. The investment will be directed towards both wind and solar projects, each requiring an estimated Rs 5.5 crore per megawatt (MW) of capacity. Sinha further disclosed that Renew Power has already secured power purchase agreements (PPAs) for 5.5 GW of projects, slated for commissioning by the end of fiscal year 2024-25. Additionally, the company has won bids for an additional 3.5 GW of capacity, although the PPAs for these projects are yet to be finalized. Sinha highlighted the cost breakdown for solar and wind installations, noting that it takes approximately Rs 4 crore per MW for solar capacity and over Rs 7 crore per MW for wind projects. Assuming a 40:60 mix between the two technologies, the average cost per MW for Renew Power’s new capacity expansion is expected to exceed Rs 5 crore per MW. This strategic investment aims to further solidify Renew Power’s position as a major player in India’s renewable energy sector. "Exciting news! Elets eGov is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest insights!" Click here! TAGS

Renew Power to Invest Rs 44,000 Crore by FY’26, to Add 9 GW Capacity

Microsoft (NASDAQ: MSFT) is a multinational technology company. It manufactures and sells computer software, consumer electronics, personal computers (PCs), and related services. It also offers the Microsoft Windows line of operating systems, the Microsoft Office suite of productivity software, and the Edge website browser. The company was founded in 1975 and is based in Redmond, Washington.

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Dr Rohini Srivathsa , National Technology Officer , Microsoft , said , '' We are happy to partner with ReNew Power to meet our sustainability targets , and to also help our customers and partners on their sustainability journey . ''

By Saur News Bureau / Updated On Mon, Dec 19th, 2022.
ReNew Power To Supply 150-MW Green Energy To Microsoft
Renewable Energy Major ReNew Power to Supply 150 MW Green Energy to Microsoft.

Commenting on the partnership , Dr Rohini Srivathsa , National Technology Officer , Microsoft said : `` Microsoft is striving to run 100 % on renewable energy by 2025 and turn carbon negative by 2030 .

07:00 ET
ReNew Power signs 150 MW Agreement with Microsoft

Jindal Stainless is a stainless steel company. It manufactures stainless steel and duplex stainless steel products. Its product range includes stainless steel slabs, blooms, coils, plates, sheets, precision strips, blade steel, and coin blanks. It was founded in 1970 and is based in New Delhi, India.

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NEW DELHIi : Jindal Stainless on Monday signed a contract with the country 's largest renewable energy company , ReNew Power , to develop a utility-scale captive renewable energy project for the supply of power to its facility in Jajpur , Odisha .

Jindal Stainless partners ReNew Power to set up 300 MW renewable energy project

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ReNew (NASDAQ: RNW) is a renewable energy company that focuses on solar & wind-energy projects. The company provides solutions in the areas of clean energy, value-added energy offerings through digitalization, storage, and carbon markets. It sells its power to state electricity boards and large industrial companies in India. It was formerly known as ReNew Power. The company was founded in 2011 and is based in Gurugram, India.

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