ReNew Power Reports 4.4% YoY Revenue Growth in Q2 FY25

21 Nov 2024 CW Team

Independent renewable energy producer ReNew Power reported a 4.4% year-over-year (YoY) revenue increase in the second quarter (Q2) of the financial year 2025, reaching ?29.9 billion ($357 million), up from ?28.6 billion ($342 million) in Q2 FY24. The growth in revenue was attributed to an increase in operational capacity, although this was partially offset by lower resource availability, reduced merchant tariffs, and revenue loss from 400 MW of projects sold as part of the company's capital recycling strategy in FY24.

The company's net profit surged 31% YoY, rising to ?4.94 billion ($59 million) compared to ?3.77 billion ($45 million) in the same quarter last year.

Finance costs for Q2 FY25 amounted to ?12.6 billion (~$150 million), marking a 2.7% decrease YoY, primarily due to effective hedging strategies and refinancing-driven savings, despite higher finance costs linked to the increase in operational assets.

The adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ?24.21 billion ($289 million), reflecting a 13.7% YoY increase from ?21.3 billion ($254 million).

In Q2 FY25, ReNew Power commissioned 557 MW of new projects, including 24 MW of wind and 533 MW of solar capacity, with a capital expenditure of ?25.7 billion (~$307 million).

The company’s electricity sales grew by 9.4% YoY, reaching 6,622 million units (MU), with wind energy contributing 4,039 MU, solar energy 2,370 MU, and hydroelectric power 213 MU. Solar energy sales saw the highest growth, increasing by 14.5%, while wind energy and hydropower grew by 6.3% and 16.2%, respectively.

Real Estate

05 Sep 2025

Vitizen Hotels Signs Deal at Manyata Tech Park

Vikram Kamats Hospitality, as part of its ongoing expansion in key metropolitan markets, announced that its material subsidiary, Vitizen Hotels, has signed a long-term lease agreement for a 45-key hotel property at Manyata Tech Park, Bengaluru.Strategically located in the city’s prominent IT hub, the property is well-positioned to serve corporate travelers, business professionals, and long-stay guests. The addition aligns with the company’s asset-light growth model, leveraging long-term leases to expand its footprint in high-demand urban markets.The hotel is expected to strengthen the comp..

CONCOR Signs MoU with BPIPL to Operate Container Terminal at Bhavnagar Port

Container Corporation of India (CONCOR) has signed a Memorandum of Understanding (MoU) with Bhavnagar Port Infrastructure (BPIPL) on September 4, 2025, in New Delhi to operate and maintain the upcoming container terminal at the northside of Bhavnagar Port, Gujarat.BPIPL had earlier entered into an agreement with the Gujarat Maritime Board (GMB) in September 2024 for the port’s development. Under this arrangement, 235 hectares of land has been leased to BPIPL for 30 years, with provision for expansion by an additional 250 hectares.The new terminal is expected to significantly enhance logistic..

Concord Launches India’s First Indigenous Zero-Emission Rail Propulsion

Concord Control Systems (CCSL), a leader in embedded electronics and critical rail technologies, has announced the development of India’s first fully indigenous zero-emission propulsion system, marking a significant step toward the country’s railway electrification and net-zero goals for 2030.Powered by Lithium Iron Phosphate (LFP) batteries and featuring a DC chopper-based drive, the propulsion system eliminates idling losses common in diesel engines, offering higher efficiency, lower costs, and zero emissions.What sets this innovation apart is its completely indigenous design. Except for..