2024-05-14 01:58:37 ET
Summary
- ReNew is one of the leading IPPs in India, with 8.7GW of renewable installed capacity.
- The company is vertically integrated in the industry and is involved in the development, ECP and O&M of its facilities.
- India's 500GW renewable development plan by 2030 represents an excellent opportunity for growth.
- RNW faces risks due to its high debt levels and may need to raise additional funds through stock issuance.
ReNew Energy Global Plc ( RNW ) is one of India's major IPPs , boasting a renewable installed capacity of 8.7GW as of January 2024. The Indian Ministry of Power aims to reach 500GW in renewable installed capacity by 2030, with 325GW of new installations expected between 2024 and 2030, based on IRENA 's estimate of 175GW renewable capacity as of December 2023. This outlook appears consistent with historical data reported in India and RNW past performance. Between FY18 and FY23, RNW delivered significant revenue growth, characterized by a 20.3% CAGR. Additionally, the 5.1GW backlog suggests further revenue growth in the coming years, especially if current Prime Minister Narendra Modi wins the June 2024 elections. This scenario could ensure continuity in terms of policy regarding incentives and regulation of the renewable energy sector....
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For further details see:
ReNew Energy Global: Structural Growth Opportunities Clouded By Debt