ReNew Energy has released its consolidated results for the fourth quarter and the fiscal year to the end of March 2022.
The developer’s total income increased 27% year on year to INR 69,195 million ($912 million) in fiscal 2021-22. Its net loss widened to INR 16,127 million, from INR 8,033 million in fiscal 2020-21. It attributed the wider net loss to charges related to its listing on the Nasdaq stock exchange, the issuance of share warrants, listing-related share-based payments, and other factors.
Its operational renewables portfolio grew to 7.6 GW at the end of March 2022, with 130 MW added in the fourth quarter alone. Its overall renewables portfolio stood at 10.7 GW, including 3.1 GW of projects in the pipeline.
The company has signed definitive agreements in the current fiscal period to purchase 528 MW of renewable energy assets. It has also signed an additional 1.6 GW of power purchase agreements, bringing its total portfolio to 12.8 GW.
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