ReNew Energy Global Plc, India’s leading renewable energy company, announced its results for Q1 FY23 ended June 30, 2022.
ReNew Energy’s portfolio has increased 30.3 percent to 12.9 GWs. The renewable energy major said 7.6 GWs are commissioned and 5.3 GWs are committed. ReNew Energy signed an additional ~0.3 GWs of PPAs bringing the company’s total portfolio to 13.2 GWs currently.
ReNew Energy reported revenue of $316 million (+48.8 percent) and Adjusted EBITDA of $255 million (+49.7 percent) during April-June.
ReNew Energy reported net loss of $1 million for Q1 FY23 as compared to a net profit of $5 million for Q1 FY22. The net loss includes a one-time expense for debt premium and the impact of a reclassification of a hedge loss from the Balance Sheet of $32 million for the refinancing of USD bonds with lower cost rupee debt.