ReNew Q2 profit up 31% YoY
ReNew Energy Global (ReNew) has reported a total income (or total revenue) of INR 29,887 million ($357 million) and net profit of INR 4,939 million ($59 million) for the second quarter of FY 2024-25.
SJVN allocates 1.2 GW of renewables-plus-storage capacity at average price of $0.051/kWh
The winning developers will set up renewable energy projects backed with energy storage system to supply firm and dispatchable renewable energy.
ReNew signs 437.6 MW green attribute contract with Microsoft
This contract is expected to generate over one million units of green electricity attributes annually, contributing to Microsoft’s ambition to be carbon-negative by 2030.
ReNew switches on 400 MW solar project in Rajasthan
ReNew has inaugurated a 400 MW solar project in Rajasthan. The project is part of a 600 MW power purchase agreement with Solar Energy Corp. of India (SECI) for 25 years.
Union Budget 2024-25: Solar developers call for ALMM deferment, tax cuts, and more
With Union Budget to be presented next week, developers hope for reduction in GST [goods and services tax] and import duties on solar components, and deferral of the ALMM [Approved List of Models and Manufacturers] imposition until domestic supplies are sufficient.
ReNew posts profit for fiscal 2024
ReNew Energy Global achieved profitability with a net profit of $50 million for FY 2024, compared to a net loss of $60 million for FY 2023. Annual revenue surged to $1,158 million.
ReNew secures $1 billion from European bank Societe Generale
Societe Generale will provide up to $1 billion of debt finance and advisory solutions, over the next three years, to support the development of ReNew’s energy transition projects.
ReNew secures PPAs for 2.2 GW of renewables
ReNew has secured power purchase agreements for 1,500 MW of solar and 688 MW of wind power projects. It has also received Letter of Awards for an additional 5.8 GW of renewable energy capacity.
Grew Energy secures 200 MW in SECI’s 400 MW solar PV module auction
Grew is amongst three MNRE approved manufacturers to win the mandate to manufacture, test, package, forward, supply and transport solar PV modules.
ReNew, Japan’s JERA partner for green ammonia project in India
The green ammonia project to be developed in Paradip, Odisha, will have a green ammonia production capacity of around 100,000 tons per year by 2030. JERA will be the offtaker for the project.
