ReNew Energy Global plc (ReNew Power), India’s leading renewable energy company, announced its consolidated results for the Q2 FY22 and H1 FY22.
As of September 30, 2021, ReNews portfolio consisted of 10,217 MWs of which 6,315 MW projects are commissioned; an increase of 15.6% over September 30, 2020 and 3,902 MW are committed, out of which power purchase agreements are signed for 2,699 MWs.
Total Income (or total revenue) for H1 FY22 was INR 38,119 million (US $ 514 million), an increase of 26.0% over H1 FY21. Total Income for the Q2 FY22 was INR 21,312 million (US$ 287 million), an increase of 44.3% over Q2 FY21.
Net loss for H1 FY22 was INR 9,849 million (US$ 133 million) compared to a net loss of INR 592 million in H1 FY21. The net loss for H1 FY22 included INR 16,407 million (US$ 221 million) of charges related to listing on Nasdaq Stock Market LLC, issuance of share warrants, listing related share based payments and others.
Adjusted EBITDA(2) (Non-IFRS) for H1 FY22 was INR 31,902 million (US$ 430 million), an increase of 27.9% over H1 FY21. Adjusted EBITDA for Q2 FY22 was INR 18,184 million (US$ 245 million), an increase of 50.3% over Q2 FY21. Adjusted EBITDA was not adjusted for the net negative impact of weather relative to normal of approximately INR 2,966 million (US $40 million) H1 FY22 and approximately INR 1,632 million (US$ 22 million) for Q2 FY22.
Non-IFRS Cash Flow to Equity (2) (“CFe”) from Operating Assets for H1 FY22 was INR 14,264 million (US$ 192 million), an increase of 84.3% over H1 FY21. Non-IFRS Cash Flow to Equity (“CFe”) from Operating Assets for the Q2 FY22 was INR 6,802 million (US$ 92 million), an increase of 757.5% over Q2 FY21.
As of November 15, 2021, 7.0 GWs of capacity was commissioned.
The chart below provides the Portfolio
Adjusted EBITDA Run Rate which is an estimation of the Adjusted EBITDA once capacity is operating for a full
INR million U
|Operating Capacity (7 GWs)||59,700 – 64,500||805-870|
|Signed PPAs (2.1 GWs)||16,300 – 17,400||220-235|
|LOA received, PPA to be signed (1.2 GWs)||7,500 – 8,200||101-111|
|Total portfolio (10.3 GWs)||83,500 – 90,100||1,126-1,216|