Latest news with #ReNewEnergy
Zawya
04-07-2025
- Business
- Zawya
Masdar-led consortium makes fresh offer to India's ReNew Energy
India's ReNew Energy Global has received a final non-binding offer from a consortium led by Abu Dhabi Future Energy Company Masdar, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), Platinum Hawk, the Canada Pension Plan Investment Board and Sumant Sinha, the Founder, Chairman and CEO of ReNew, to take the company private. The latest offer by the consortium is looking to acquire the entire share capital of the Nasdaq-listed ReNew for $8.00 per share, up 13.2% from a $7.07 per share offer made on December 10. The latest offer could see the deal valued at $3.19 billion. At the time of the initial offer, Reuters valued the deal at $2.82 billion. 'The final non-binding offer represents a 26.2% premium versus the undisturbed share price of $6.34 on December 10, 2024, being the closing share price prior to the initial non-binding proposal becoming public and a 38.9% premium to the 30-day volume-weighted average price of US$5.76 per share (as of December 10, 2024),' ReNew said in a SEC filing. ReNew operates 10.3 gigawatts (GW) of solar, wind, hydro and hybrid projects across India. As the country's second largest clean energy generator after Adani Green, ReNew saw its stock surge to a 52-week high of $7.67 on July 3, aligning with the improved offer, and implying investor optimism. According to LSEG data, CPP Investments and ADIA are the top two investors in ReNew, with Goldman Sachs listed as an early investor before selling its entire stake prior to the company going public in 2021. The company's board of directors have formed a special committee to consider the proposals. Rothschild & Co has been appointed as independent financial advisor on the offer, with Linklaters LLP as independent legal counsel. (Reporting by Bindu Rai, editing by Seban Scaria)
Yahoo
17-06-2025
- Business
- Yahoo
ReNew Energy Global PLC (RNW) Q4 2025 Earnings Call Highlights: Strong Growth in Operating ...
Total Operating Megawatts: 11.2 gigawatts, a 17% increase year-over-year. Contracted Portfolio: 18.5 gigawatts, with an additional 1.1 gigawatts of BESS. EBITDA Growth: Over 14% year-on-year. EBITDA Margins (IPP Business): Approximately 83%, up from a little over 80% last year. Profit Before Tax: INR10 billion, a 23% increase for the year. Adjusted EBITDA (Q4): INR22.1 billion, a 32% increase year-over-year. Profit Before Tax (Q4): INR3 billion, up from INR2.1 billion in the same quarter last year. Profit After Tax (Q4): INR3.1 billion. Profit After Tax (Full Year FY25): INR4.6 billion. Debt Financing Raised: Approximately USD2 billion during the year. DSOs: 71 days, down from 77 days one year ago. Guidance for FY26 Adjusted EBITDA: INR87 billion to INR93 billion. Guidance for FY26 Cash Flow to Equity Holders: INR14 billion to INR17 billion. Warning! GuruFocus has detected 11 Warning Signs with RNW. Release Date: June 16, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. ReNew Energy Global PLC (NASDAQ:RNW) achieved a new high in operating megawatts, reaching 11.2 gigawatts, a 17% increase year-over-year. The company secured $100 million in equity funding to expand its solar cell facility, enhancing its supply chain security. ReNew Energy Global PLC (NASDAQ:RNW) delivered over 14% EBITDA growth year-on-year, with improved margins in its IPP business. The company has a robust contracted portfolio of 18.5 gigawatts, with an additional 1.1 gigawatts of BESS, reflecting strong market positioning. ReNew Energy Global PLC (NASDAQ:RNW) achieved significant ESG milestones, including a Grade A LSEG rating and recognition in Morningstar Sustainalytics' 2025 Top-Rated ESG Companies list. The PLF for wind and solar assets declined year-over-year, impacting overall performance. Weather patterns negatively affected adjusted EBITDA, offsetting some financial benefits. The company faces potential delays in project execution due to grid network build-out challenges. ReNew Energy Global PLC (NASDAQ:RNW) has a high leverage ratio, with operating business leverage slightly above 6x. The company is exposed to refinancing risks, with bonds due in July 2026 requiring strategic market monitoring. Q: What are the assumptions for PLF (Plant Load Factor) for fiscal '26, given the decline in fiscal '25? A: Kailash Vaswani, CFO, stated that the PLF levels for fiscal '26 are assumed to be similar to fiscal '25 at the lower end of the guidance range. If PLF levels improve, the results could be better than currently projected. Q: What are the expectations for module sales in fiscal '26, and what is the timeline for the 1.4 gigawatt order book? A: Kailash Vaswani explained that the 1.4 gigawatt order book is expected to be fulfilled throughout the fiscal year. The mix includes 1.1 gigawatts of DCR-based sales and around 300 megawatts of non-DCR sales, primarily through tolling arrangements. Q: How will the $330 million to $350 million CapEx for the TOPCon cell facility be financed? A: Kailash Vaswani mentioned that the financing will follow a 70% debt and 30% equity structure, similar to previous phases. Discussions with lenders are ongoing, and capital raised from recycling will support the IPP business. Q: Are there plans to sell modules outside of India, and what are the expected margins for FY26? A: Kailash Vaswani noted that current contracts are primarily for the Indian market, focusing on DCR sales. Margins are expected to remain stable, benefiting from industry-leading efficiency levels at their cell plant. Q: How will declining interest rates in India impact debt financing and refinancing strategies? A: Kailash Vaswani stated that they will opportunistically refinance existing debt to benefit from lower rates and apply these rates to new debt for expansion projects. Approximately 30-40% of their debt is floating rate, which will naturally benefit from rate cuts. Q: What are the plans for refinancing bonds due in July 2026? A: Kailash Vaswani explained that they are monitoring the market and will refinance when conditions are favorable. They may also consider moving some debt to India if it proves beneficial. Q: Are there any rare earth supply disruptions affecting ReNew or its peers? A: Sumant Sinha, CEO, confirmed that rare earth supply disruptions have not surfaced as an issue for ReNew or its peers. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Mint
16-06-2025
- Business
- Mint
ReNew's profit surges fivefold to ₹313.7 crore in Q4
New Delhi: Nasdaq-listed ReNew Energy Global Plc on Monday reported a fivefold year-on-year jump in its profit in the quarter ended March. The net profit for the fourth quarter of FY25 stood at ₹ 313.7 crore ($37 million) compared with ₹ 60.9 crore ($7 million) a year earlier, according to the company's filing to the US Securities and Exchange Commission. The increase was primarily 'driven by higher operating revenues, external sales from our module and cell manufacturing operations, and lower tax incidence, partially offset by higher scale linked financing costs & depreciation, including costs attributable to external sales from our module and cell manufacturing operations, and lower resource availability," the filing said. ReNew Energy's total income during the period under review was ₹ 3,439.1 crore, nearly 39% higher than ₹ 2,477.6 crore a year earlier. The total revenue includes external sales from the module and cell manufacturing operations worth ₹ 991.4 crore. For the financial year 2024-25, the company reported a total income of ₹ 10,907 crore, compared with ₹ 9,653.1 crore in FY24. As of 31 March 2025, ReNew Energy said its portfolio comprised 17.3 gigawatts (GW) of green energy capacity, compared to 13.5 GW a year earlier. In the ongoing financial year (FY26), the company has signed 1.2 GW of power purchase agreements, taking the total portfolio to 18.5 GW along with a 1.1 GWh battery energy storage system. In addition, the company has 6.5 GW of solar module manufacturing and 2.5 GW of cell manufacturing. On the proposed delisting, the company said that a special committee led by Manoj Singh, the lead independent director and comprising six independent non-executive ReNew directors, would consider the non-binding proposal and the active discussions are ongoing with the consortium of Abu Dhabi Future Energy Company PJSC-Masdar, Canada Pension Plan Investment Board, Platinum Hawk C 2019 RSC Ltd (trustee for the Platinum Cactus A 2019 Trust, a wholly owned subsidiary of the Abu Dhabi Investment Authority), and Sumant Sinha, the founder, chairman and CEO of ReNew. The consortium had offered to acquire the listed shares of ReNew. On 11 December 2024, the company announced that it had received the non-binding proposal to acquire the entire share capital not already owned by members of the consortium for $7.07 per share. The special committee has retained an independent financial advisor, Rothschild & Co, and independent legal counsel Linklaters LLP, the statement said. 'Active discussions with the Consortium are ongoing and the Special Committee will provide an update to the market on the outcome as soon as reasonably practicable."
Mint
16-06-2025
- Business
- Mint
ReNew's profit surges fivefold to ₹313.7 crore in Q4
New Delhi: Nasdaq-listed ReNew Energy Global Plc on Monday reported a fivefold year-on-year jump in its profit in the quarter ended March. The net profit for the fourth quarter of FY25 stood at ₹ 313.7 crore ($37 million) compared with ₹ 60.9 crore ($7 million) a year earlier, according to the company's filing to the US Securities and Exchange Commission. The increase was primarily 'driven by higher operating revenues, external sales from our module and cell manufacturing operations, and lower tax incidence, partially offset by higher scale linked financing costs & depreciation, including costs attributable to external sales from our module and cell manufacturing operations, and lower resource availability," the filing said. ReNew Energy's total income during the period under review was ₹ 3,439.1 crore, nearly 39% higher than ₹ 2,477.6 crore a year earlier. The total revenue includes external sales from the module and cell manufacturing operations worth ₹ 991.4 crore. For the financial year 2024-25, the company reported a total income of ₹ 10,907 crore, compared with ₹ 9,653.1 crore in FY24. As of 31 March 2025, ReNew Energy said its portfolio comprised 17.3 gigawatts (GW) of green energy capacity, compared to 13.5 GW a year earlier. In the ongoing financial year (FY26), the company has signed 1.2 GW of power purchase agreements, taking the total portfolio to 18.5 GW along with a 1.1 GWh battery energy storage system. In addition, the company has 6.5 GW of solar module manufacturing and 2.5 GW of cell manufacturing. On the proposed delisting, the company said that a special committee led by Manoj Singh, the lead independent director and comprising six independent non-executive ReNew directors, would consider the non-binding proposal and the active discussions are ongoing with the consortium of Abu Dhabi Future Energy Company PJSC-Masdar, Canada Pension Plan Investment Board, Platinum Hawk C 2019 RSC Ltd (trustee for the Platinum Cactus A 2019 Trust, a wholly owned subsidiary of the Abu Dhabi Investment Authority), and Sumant Sinha, the founder, chairman and CEO of ReNew. The consortium had offered to acquire the listed shares of ReNew. On 11 December 2024, the company announced that it had received the non-binding proposal to acquire the entire share capital not already owned by members of the consortium for $7.07 per share. The special committee has retained an independent financial advisor, Rothschild & Co, and independent legal counsel Linklaters LLP, the statement said. 'Active discussions with the Consortium are ongoing and the Special Committee will provide an update to the market on the outcome as soon as reasonably practicable." The statement said the ReNew executive management's primary focus will be to continue to ensure the effective management of the company, in addition to helping evaluate the process as required by the special committee.
Yahoo
16-05-2025
- Business
- Yahoo
ReNew Energy to set up $2.57 billion solar, wind project in India
(Reuters) -ReNew Energy Global, said on Friday it will invest 220 billion rupees ($2.57 billion) to set up a hybrid renewable energy project in the eastern Indian state of Andhra Pradesh, as it looks to cash in on the country's booming clean energy needs. The company said the project will add 2.8 gigawatts (GW) total energy -- 1.8 GW solar and 1 GW wind -- and will be able to supply power for up to four hours a day in peak hours. ReNew Energy, the biggest renewable energy firm in India after Adani Green, has projects across ten Indian states, with a total global portfolio of 17.4 GW as of February 14. India has been scrambling to meet its clean energy targets after falling short in 2022. Over the past year, the country has ramped up investments in the sector, but it still needs to double capacity additions over the next five years to meet its target of 500 GW non-fossil power capacity by 2030, a Global Energy Monitor report showed. ($1 = 85.5870 Indian rupees) Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
