₹321.6 crore in the December quarter, against a net loss of ₹401.3 crore a year earlier. With its ambitious expansion plans across the green energy ecosystem, ReNew has been looking at options to raise funds both through asset sale and debt financing. In February, Mint reported that ReNew Energy Global Plc is in talks with Singapore’s Sembcorp Industries Ltd to sell solar energy projects totalling 350 megawatts (MW), with the deal estimated to be valued at around $241 million at the enterprise level and around $121 million in terms of equity.
In January, the company decided to sell its 300 MW solar project in Rajasthan to India Grid Trust for an enterprise value of $199 million. It has been exploring several stake sale opportunities, including selling a 30% stake in its 2.3 GW commercial and industrial projects. In July last year, it announced a joint venture with Malaysia's Gentari Sdn Bhd to develop 5 GW capacity including solar, wind and energy storage projects.
Last month, ReNew said that it aims to double its renewable energy portfolio to 20 GW within the next four years. Its revenue-generating capacity stood at 9.52 GW as of 31 March 2024. Speaking to Mint, Sinha then said the company is shifting its focus to round-the-clock (RTC) renewable energy projects, and highlighted its preference for battery energy storage systems due to their shorter setup times for grid-scale implementation.
ReNew has a joint venture with US-based Fluence to offer energy storage solutions in India. Tariffs from RTC projects have become competitive with those from conventional thermal power, according to ICRA, a professional investment information and credit rating agency. ReNew operates 150 renewable energy sites across 10 Indian states,
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