Madhya Pradesh Increases Power Tariffs Across All Categories

Andhra Pradesh Retains Last Year’s Electricity Tariffs for FY 2026

Assam Aims for 11.7 GW Renewable Energy Capacity by 2030

Rajasthan Commission Adopts Tariff for JVVNL’s 12.02 MW Solar Projects

ACME Solar Secures ₹24.91 Billion Refinancing to Cut Debt Costs

Chhattisgarh Regulator Approves ₹3.50/kWh as Tariff for 310 MW Solar Project

Sarala, Oriana and Pace win KPTCL’s 1 GWh Standalone BESS Auction

Karnataka Issues Procedure for Verifying Status of Captive Power Projects

Month in a Minute: Top Headlines from the Indian Renewable Sector in March 2025

Government Tightens Solar Cell Manufacturing Norms


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2025/02/amazon_polly_76675.mp3?version=1740134113">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Decarbonization solutions company <a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew</a> reported revenue of ₹21.2 billion (~$248 million) during the third quarter (Q3) of the financial year (FY) 2025, a 10% year-over-year (YoY) increase from ₹19.3 billion (~$225 million).</p>
<p>The company’s revenue from power sales was ₹14.9 billion (~$175 million), down slightly from ₹15 billion (~$176 million) a year ago.</p>
<p>Its net loss widened to ₹3.8 billion (~$45 million) from ₹3.2 billion (~$38 million) during the same quarter the previous year.</p>
<p>Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter came in at ₹13.8 billion (~$162 million), up 10% YoY from ₹12.5 billion (~$146 million).</p>
<p>During the quarter and the first nine months (9M) of FY 2025, ReNew’s wind plant load factor (PLF) stood at 13.5%, a decline from 17% over the previous year. During the first nine-month period, absolute wind PLF had fallen by almost 240 basis points.</p>
<p><strong>9M Performance</strong></p>
<p>ReNew&#8217;s revenue rose 5% YoY to ₹75.9 billion (~$887 million) during 9M from ₹72.4 billion (~$846 million).</p>
<p>Power sales revenue also grew 5% to ₹64.3 billion (~$752 million) from ₹61.3 billion (~$717 million). The revenue also includes proceedings of ₹3.4 billion (~$40 million) from the company’s module and cell manufacturing operations.</p>
<p>Its net loss during 9M FY 2025 was ₹1.4 billion (~$17 million), a 143% YoY reduction from ₹3.5 billion (~$41 million).</p>
<p>Adjusted EBITDA for 9M rose to ₹57 billion (~$667 million) from ₹52.4 billion (~$613 million) during the same period the previous year.</p>
<p>The company’s adjusted EBITDA and net profit from external sales from its module and cell manufacturing operations were ₹597 million (~$ 7 million) and ₹423 million (~$5 million) respectively.</p>
<p>The company adjusted its expected EBITDA for FY 2025 to between ₹74 billion (~$854 million) and ₹78 billion (~$900 million), and its cash flow equity (CFe) to between ₹11 billion (~$127 million) and ₹13 billion (~$150 million). It revised the expectations mainly because of the impact of the low resource availability in 9M FY 2025.</p>
<p><strong>Operational Highlights</strong></p>
<p>ReNew&#8217;s committed portfolio expanded 26% YoY to approximately 17.4 GW from roughly 13.8 GW and an additional 1.1 GW since the last quarter.</p>
<p>Its commissioned capacity increased 25.5% YoY to about 10.7 GW. The company has commissioned 92 MW of wind capacity in Q4 FY 2025 so far, increasing its total commissioned capacity to roughly 10.8 GW.</p>
<p>The company also reported a year-to-date commissioning of approximately 1.3 GW capacity and an additional 150 MWh of batteries.</p>
<p>It secured 3.9 GW of renewable energy and 600 MWh of battery capacity in FY 2025 so far, increasing its pipeline to an approximate renewable energy capacity of 24 GW and 2 GWh of battery capacity.</p>
<p>ReNew expects to complete between 1,900 MW and 2,400 MW installations by the end of FY 2025. These installations also include an approximate capacity of 600 MW, subject to timely regulatory approvals and the build-out of the evacuation infrastructure.</p>
<p>At the earnings call with analysts, the company said it faced land acquisition challenges for wind projects over the last six to nine months. It could commission more solar capacity than wind projects during the period.</p>
<p>The company does not expect wind energy generation in India to exceed 5 GW annually for the next two or three years.</p>
<p>In Q3 FY 2025, ReNew’s wind plant load factor (PLF) stood at 13.5%, a decline from 17% over the previous year. During the first nine-month period, absolute wind PLF had fallen by almost 240 basis points.</p>
<p>ReNew <a href="https://www.mercomindia.com/renews-revenue-profit-renewable-capacity-grows" target="_blank" rel="noopener">reported</a> revenue of ₹29.9 billion ($357 million) during Q2 FY 2025, a 4.4% YoY increase from ₹28.6 billion (~$342 million).</p>
<p>The company <a href="https://www.mercomindia.com/renews-climbs-7-on-higher-energy-sales" target="_blank" rel="noopener">reported</a> revenue of ₹22.81 billion (~$274 million) in Q1 FY 2025, an approximately 7% YoY increase from ₹21.25 billion (~$255 million).</p>


ReNew’s Q3 FY 2025 Revenue Up Slightly, Lower Wind PLF Bites


					<table id="amazon-polly-audio-table">
						<tr>
						<td id="amazon-polly-audio-tab">
							<div id="amazon-ai-player-label">Listen to this article</div>
							<div id="amazon-ai-player-container">
			<audio class="amazon-ai-player" id="amazon-ai-player" preload="none" controls   controlsList="nodownload" >
				<source type="audio/mpeg" src="https://cms.mercomindia.com/wp-content/uploads/2024/02/amazon_polly_63594.mp3?version=1715948511">
			</audio>
		</div>
							<div id="amazon-polly-subscribe-tab"></div>
							<div id="amazon-polly-by-tab"></div>
						</td>
						</tr>
					</table><p>Independent renewable power producer <a href="https://www.renew.com/" target="_blank" rel="noopener">ReNew Energy</a> narrowed its net loss by 19% to ₹3.2 billion (~$39 million) in the third quarter (Q3) of the financial year (FY) 2024 from ₹4 billion (~$48 million) last year, helped by higher tariffs and lower prices of solar modules.</p>
<p>ReNew said that the tariffs in auctions, compared to last year, were higher by 14% and 7% for wind and solar, respectively, and the prices of solar modules fell by 60% this year.</p>
<p>“Beyond the rise in tariffs, we saw several other factors that are supporting better returns, such as a record fall in the cost of solar modules, stable FX, adequate domestic debt financing, and a significant reduction in receivable days,” said CEO Sumant Sinha during a post-earnings call with analysts.</p>
<p>The Nasdaq-listed company’s Q3 revenue was ₹19.3 billion (~$232 million), compared to ₹16 billion (~$193 million) in the same period last year. The 20% jump can be partly attributed to additional projects commissioned during the quarter and higher plant load factor (PLF) for wind. Wind PLF during the quarter was 17% compared to 14.7% last year.</p>
<p>The adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter was ₹12.5 billion (~$150 million), up 7% from last year’s ₹11.6 billion (~$140 million).</p>
<p>The company won 2.5 GW of auctions in Q3, in what it called “one of the best action markets ever,” but warned of transmission increasingly becoming a bottleneck for the commissioning of future renewable capacity in India.</p>
<p>Sinha said the Central Electricity Authority has now become more careful in giving connectivity approvals because of the amount of renewable capacity being added. The timeframe for processing a transmission request has now increased to four to six weeks compared to two to three days earlier.</p>
<p><strong>9M FY 2024</strong></p>
<p>After posting a net loss of ₹5.1 billion (~$61 million) in the first nine months of FY 2023, ReNew recorded a net profit of ₹3.5 billion (~$43 million) in the first nine months of FY 2024. Lower costs and a stable foreign exchange environment helped the swing to profit.</p>
<p>The company’s total revenue rose 14% to ₹72.4 billion (~$870 million) in the first nine months from ₹63.5 billion (~$763 million) in the same period last year, helped by higher tariffs and higher generation of electricity.</p>
<p>Adjusted EBITDA also showed strong growth, increasing 5% to ₹52.4 billion (~$630 million) in the first nine months of FY 2024, compared to ₹50 billion (~$601 million) in the same period last year.</p>
<p>ReNew expanded its clean energy portfolio to 13.8 GW as of December 31, 2023.</p>
<p>In the previous quarter, higher PLF resulted in the company <a href="https://www.mercomindia.com/renew-profit-up-28-yoy-q2-fy24" target="_blank" rel="noopener">recording</a> a 28% jump in year-over-year profit, while in the quarter earlier, lower finance costs <a href="https://www.mercomindia.com/lower-finance-costs-take-renew-profit-2-98-billion-q1" target="_blank" rel="noopener">helped</a> it churn out a profit compared to a loss a year ago.</p>


ReNew Narrows Q3 Net Loss on Higher Tariffs and Lower Module Prices

renew-energy

Get the most relevant India solar and clean energy news.

RECENT POSTS