ReNew Powers Ahead: Record Renewable Energy Commissions and Financial Growth in Q2 2025
ReNew, a leading renewable energy company, has reported strong growth in its commissioned megawatts and financial performance in the second quarter of 2025. During an earnings call on November 20, 2024, Sumant Sinha, Founder, Chairman, and CEO, highlighted the company's commitment to reducing costs and building efficiency in its operations.
Sinha emphasized the urgent need for sustainable sources of clean energy, citing extreme weather events globally such as forest fires in the US, flash floods in Europe, and soaring temperatures in Northern India. ReNew is working to address this challenge by changing the energy mix of India, where it is expanding its contracted pipeline and striving towards reducing costs.
The company has commissioned 860 megawatts to date in this fiscal year, on track to meet its guidance of installed megawatts. Additionally, there are another 350-400 megawatts currently installed that should be largely commissioned in the third quarter. ReNew's total operating capacity net of assets sold grew by approximately 30%, with a total portfolio growth of about 18% and 21% after adjusting for the sale of 400 megawatts last year.
In terms of financial performance, ReNew reported a 14% growth in its adjusted EBITDA this quarter, driven by cost optimization. The company also saw a 31% increase in profit after tax, primarily due to lower G&A and finance costs. Kailash Vaswani, CFO, will cover the details of the financial section.
ReNew's solar module manufacturing facilities are now fully operational, with trial production started at its cell facility. While stabilization of sell operations is expected to take the rest of the fiscal year, the company anticipates that its entire cell and module facilities will be operating for the full next fiscal year.
