ReNew Energy Crosses 10 GW Of Gross Renewable Energy Assets
Portfolio Pulse from Benzinga Newsdesk
ReNew Energy has surpassed 10 GW of gross renewable energy assets, making it one of the fastest clean energy companies to reach this milestone. In FY24, the company added 1.94 GW, bringing its revenue-generating capacity to 9.52 GW. ReNew, listed on Nasdaq as RNW, contributes about 10% to India's RE generation and plans to double its RE asset portfolio to 20 GW by 2027/28. The company's expansion is supported by a strong balance sheet of around $10.6 billion as of December 31, 2023. ReNew's growth aligns with India's goal to achieve 500 GW of non-fossil fuel energy capacity by 2030.
April 10, 2024 | 12:40 pm
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POSITIVE IMPACT
ReNew Energy (RNW) has achieved over 10 GW of renewable energy assets and plans to double this capacity by 2027/28. The company's strong financials and significant role in India's clean energy sector position it for continued growth.
ReNew Energy's announcement of surpassing 10 GW in renewable energy assets and its ambitious plan to double this capacity by 2027/28 indicate strong growth prospects. The company's significant contribution to India's renewable energy generation and its strong financial position, with a balance sheet of around $10.6 billion, support a positive outlook for its stock. Additionally, ReNew's strategic role in supporting India's goal to achieve 500 GW of non-fossil fuel energy capacity by 2030 further enhances its importance in the renewable energy sector.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100