Indian IPP ReNew Power reported a net loss of INR104 million (US$1 million) last quarter, which it said was as a result of a one-time expense for the refinancing of US bonds with lower cost rupee debt.
US$1 billion financing has been secured for a ‘Round-The-Clock’ (RTC) renewable energy project in India, marking the biggest single-project clean energy deal in the country, developer ReNew Power has claimed.
ReNew Energy Global witnessed a 27% jump in revenue in its last financial year but saw its net loss almost double on the back of costs associated with its NASDAQ listing.
Indian Independent power producer (IPP) ReNew Power has signed a number of offtake agreements with both state utilities and corporates in India totalling roughly 2GW.
A round-up of the latest projects news, including Mitsui investing in ReNew Power’s ‘round the clock’ (RTC) project in India, Canadian Solar selling a solar plus storage project and JinkoSolar delivering 500,000 bifacial modules to a Greek project.
Indian renewables company ReNew Power, oil refiner IndianOil and engineering company Larsen & Toubro (L&T) have formed a joint venture (JV) to develop green hydrogen projects in India, with the latter two forming a separate JV dedicated to manufacturing electrolysers in India.
A high court in the Indian state of Andhra Pradesh has ruled that state distribution companies (Discoms) must honour the power purchase agreements (PPA) they signed with electricity producers and settle any debts within six weeks in a move with potentially huge significance for the country’s solar sector.
In a significant ruling for the Indian renewables market, a high court in the state of Andhra Pradesh has ruled that state distribution utilities (Discoms) must pay renewable companies the terms they agreed to when they signed power purchase agreements (PPAs) within six weeks.
Indian independent power producer (IPP) ReNew Power posted a 25.6% jump in revenue for the first nine months of the fiscal year 2022 (FY22) compared with the same period in the 2021 fiscal year, while its net losses soared as a result of its August IPO on the NASDAQ.
Indian independent power producer (IPP) ReNew Power has sold its 117MW rooftop solar portfolio as part of a strategy to heighten its focus on utility-scale PV.
