ReNew’s Q3 FY25 Revenue Rises 10%, Wind PLF Declines

22 Feb 2025 CW Team

ReNew reported revenue of Rs 21.2 billion in Q3 FY25, marking a 10% year-over-year (YoY) increase from Rs 19.3 billion. Revenue from power sales stood at Rs 14.9 billion, slightly lower than Rs 15 billion a year ago. However, the company’s net loss widened to Rs 3.8 billion from Rs 3.2 billion in the same period last year. Adjusted EBITDA rose 10% YoY to Rs 13.8 billion.

ReNew’s wind plant load factor (PLF) for the quarter fell to 13.5%, down from 17% the previous year, reflecting a decline of nearly 240 basis points over the first nine months (9M) of FY25.

For 9M FY25, ReNew’s revenue increased 5% YoY to Rs 75.9 billion, with power sales revenue rising to Rs 64.3 billion. The company also earned Rs 3.4 billion from its module and cell manufacturing operations. Net loss for the period reduced 143% YoY to Rs 1.4 billion, while adjusted EBITDA climbed to Rs 57 billion.

ReNew’s committed portfolio expanded 26% YoY to 17.4 GW, while its commissioned capacity grew 25.5% to 10.8 GW. The company has secured 3.9 GW of renewable energy and 600 MWh of battery capacity in FY25, raising its development pipeline to 24 GW of renewable capacity and 2 GWh of battery storage.

Despite progress, the company faced land acquisition challenges for wind projects, leading to greater solar capacity additions. ReNew expects India’s annual wind energy generation to remain below 5 GW for the next two to three years.

(Mercom)

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