Business
ReNew Power Announces Results for the Third Quarter (Q3 FY22) and Nine Months of Fiscal 2022, both ended December 31, 2021
GURUGRAM, India, Feb. 24, 2022 /PRNewswire/ -- ReNew Energy Global plc ("ReNew" or "the Company") (Nasdaq: RNW), India's leading renewable energy company,
About this update from Renew Energy Global Plc
[{"type":"text","content":"\n GURUGRAM, India, Feb. 24, 2022 /PRNewswire/ -- ReNew Energy Global plc (\"ReNew\" or \"the Company\") (Nasdaq: RNW), India's leading renewable energy company, today announced its consolidated results for Q3 FY22 and nine months ended December 31,2021. \nOperating Highlights:\nThe commissioned capacity of the Company increased by 1.1 GW during Q3 FY22 of which 0.8 GW was added organically. As of December 31, 2021, the Company's portfolio consisted of 10.3 GW of which 7.4 GW are commissioned and 2.9 GW are committed. Total Income (or total revenue) for nine months of FY22 was INR 51,581 million (US$ 693 million), an increase of 25.6% over nine months of FY21. Total Income for the Q3 FY22 was INR 13,462 million (US$ 181 million), an increase of 24.7% over Q3 FY21. Net loss for nine months of FY22 was INR 12,573 million (US$ 169 million) compared to a net loss of INR 4,093 million (US$ 55 million) in nine months of FY21. The net loss for nine months of FY22 included INR 13,158 million (US$ 177 million) of charges related to listing on Nasdaq Stock Market LLC, issuance of share warrants, listing related share-based payments and others. Adjusted EBITDA(2) (Non-IFRS) for nine months of FY22 was INR 42,456 million (US$ 571 million), an increase of 27.5% over nine months of FY21. Adjusted EBITDA for Q3 FY22 was INR 10,554 million (US$ 142 million), an increase of 26.0% over Q3 FY21. Adjusted EBITDA was not adjusted for the net negative impact of weather relative to normal of approximately INR 4,082 million (US$55 million) for nine months of FY22 and approximately INR 1,116 million (US$ 15 million) for Q3 FY22. Non-IFRS Cash Flow to Equity (2) (\"CFe\") from Operating Assets for nine months of FY22 was INR 17,904 million (US$ 241 million), an increase of 115.7% over nine months of FY21. Non-IFRS Cash Flow to Equity from Operating Assets for Q3 FY22 was INR 5,085 million (US$ 68 million), an increase of 811.7% over Q3 FY21. Key Operating Metrics\nAs of December 31, 2021, our total portfolio consisted of 10,331 MW. Commissioned capacity was 7,440 MW of which 3,749 MW was wind, 3,592 MW solar and 99 MW were hydro. We commissioned 160 MW of wind and 1,325 MW of solar capacity during the nine months of FY22 and 97 MW of wind and 769 MW of solar capacity during Q3 FY22. We acquired 260 MW of solar assets during Q3 FY22.\nElectricity sold\nTo...