ReNew Energy Global (RNW) has released an update.
ReNew Energy Global Plc reported a 14% year-over-year growth in commissioned capacity, reaching around 10 GWs as of August 2024, alongside a revenue increase for Q1 FY25 to approximately $274 million from $255 million in Q1 FY24. Despite these gains, net profit for the quarter fell sharply to $5 million from the previous year’s $36 million, primarily due to asset sales, lower plant load factors, and increased expenses. The company reaffirms its fiscal year 2025 guidance, projecting substantial growth in construction and adjusted EBITDA.
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