ReNew reiterates weather-adjusted FY'22 guidance, outlines significant value accretive growth at Capital Markets Day
GURGAON,
ReNew's leadership comprising of the Company's Founder, Chairman and Chief Executive Officer –
Over the last 10 years, ReNew has emerged as a leader in the Indian renewable energy market and as one of the largest renewable energy companies globally. Going forward, ReNew expects to have significant opportunities for value accretive growth in the Indian renewable energy market with the bid market representing about 300 GW, corporate PPAs representing 25 GW, and acquisition opportunities representing around 30-50 GW. ReNew's current operational capacity stands at 6.4 GW following the commissioning of SECI-4 solar project in Jaisalmer, Rajasthan.
To lead
The Indian clean energy sector is evolving with innovative constructs such as Round-The-Clock (RTC) power, hybrid with storage tenders and corporate PPAs. ReNew's growth is likely to come from high return opportunities that comfortably exceed our cost of capital and help us achieve our targeted equity IRRs of 16 – 20%."
Guidance
ReNew is reaffirming its weather-adjusted EBITDA guidance for FY'22 of
From the current operating capacity of 6.4 GW, the Company expects to realise an annual EBITDA of
ReNew will not require any new external equity for the aspirational target of 18 GW which is about 8 GW more than the company's current total portfolio of 10.2 GW. An operating portfolio of 18 GW is expected to equity fund 3.5 – 4 GW, or ~20%, of annual capacity additions through CFe without the need for new external equity.
(Note, all INR to USD conversions are at an FX rate of 75:1)
Capital Markets Day
ReNew Capital Markets Day can be viewed through a webcast by registering on this Link. Members of the public who would like to join by phone can do so by dialing +1-833-239-5971 (
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Press Inquiries ; Arijit Banerjee ;arijit.banerjee@renewpower.in ; +91 9811609245; Madhur Kalra, madhur.kalra@renewpower.in, +91 9999016790Investor Inquiries; Nathan Judge, CFA, nathan.judge@renewpower.in