Research analysts who have asked questions during ReNew Energy Global earnings calls.
MM
Maheep Mandloi
Mizuho Financial Group
5 questions for RNW
Also covers: ARRY, BE, CSIQ +11 more
JC
Justin Clare
Roth MKM
4 questions for RNW
Also covers: AMPS, AMSC, ATKR +11 more
NN
Nikhil Nigania
AllianceBernstein
3 questions for RNW
Puneet Gulati
HSBC
3 questions for RNW
NN
Nikhil Nagania
Bernstein
2 questions for RNW
Aniket Mittal
SBI Mutual Fund
1 question for RNW
LS
Lav Sharma
JPMorgan Chase & Co.
1 question for RNW
MS
McAuliffe Smith
Web Submission
1 question for RNW
MS
McCallie Smith
Ninety One
1 question for RNW
Recent press releases and 8-K filings for RNW.
Renewal Fuels (RNWF) Completes Kepler Fusion Transaction and Advances Regulatory Milestones
RNW
M&A
Legal Proceedings
Delisting/Listing Issues
- Renewal Fuels, Inc. (RNWF), operating as American Fusion, has formally closed its transaction with Kepler Fusion Technologies Inc., with an effective date of February 27, 2026. This milestone simplifies the year-end audit for fiscal year 2025.
- The company is nearing completion of its PCAOB audit for fiscal years 2024 and 2025 and anticipates filing its Form 10 registration statement with the SEC in the near term after obtaining required EDGAR access codes.
- RNWF refiled its Motion for Entry of Default Judgment in the pending Washington matter on February 27, 2026, and is progressing a corporate action with FINRA related to its transition to American Fusion and requests for multiple potential trading symbols.
2 days ago
Renewal Fuels (RNWF) Provides Update on Washington State Legal Matters
RNW
Legal Proceedings
Delisting/Listing Issues
- On February 26, 2026, the King County Superior Court dismissed all claims against Justin Costello in Renewal Fuels, Inc.'s civil action.
- The Court struck Renewal Fuels, Inc.'s Motion for Entry of Default Judgment against corporate defendants due to procedural citation formatting issues, not the merits of the claims; defaults against corporate defendants remain in place, and the Company is refiling the motion.
- The underlying action seeks rescission of two 2021 asset purchase agreements and cancellation of approximately 1,683,000,000 shares issued without consideration.
- Renewal Fuels, Inc. (OTC: RNWF) is operating under the American Fusion brand and has filed a corporate action with FINRA to change its legal name to American Fusion Inc..
6 days ago
ReNew Energy Global Reports Strong Q3 FY26 Results, Raises Guidance, and Refinances Debt
RNW
Earnings
Guidance Update
New Projects/Investments
- ReNew reported a 31% increase in Adjusted EBITDA to INR 74.8 billion for the nine months ending December 31, 2026, with profit after tax increasing over sixfold. The company also raised its lower-end Adjusted EBITDA guidance for FY26 to INR 90 billion-INR 93 billion, with manufacturing contributing INR 11 billion-INR 13 billion ,.
- The company successfully issued a $600 million bond at 6.5%, replacing a previous bond at 7.95% and saving approximately $9 million annually ,. Additionally, $275 million was raised through capital recycling, including the sale of 600 MW of assets.
- Operating capacity grew by 19% to 11.8 GW (adjusted for asset sales), with the total portfolio reaching 19.2 GW , ,. ReNew is strategically shifting its committed portfolio to include more battery energy storage systems (BESS) and solar, reducing wind capacity from 2.5 GW to approximately 850 MW to lower CapEx, reduce execution risk, and improve cash flow predictability , ,.
- Headline leverage decreased from 8.2x in December 2024 to 7x debt EBITDA currently, and 6.7x excluding JV partners, with a target to reduce it further to under 5.5x by 2028-2030 , ,.
Feb 16, 2026, 1:30 PM
ReNew Energy Global Reports Strong Q3 FY26 Results, Raises Guidance, and Refinances Debt
RNW
Earnings
Guidance Update
Debt Issuance
- ReNew Energy Global reported a 31% increase in adjusted EBITDA to INR 74.8 billion and an over sixfold increase in profit after tax for the nine months ending December 31, 2025.
- The company successfully refinanced a bond, raising $600 million at a 6.5% interest rate, down from 7.95%, saving approximately $9 million annually in interest expenses. Headline leverage has decreased from 8.2x in December 2024 to 7x debt EBITDA currently, with a target to reduce it to under 5.5x by 2028-2030.
- ReNew has updated its fiscal year 2026 guidance, increasing the lower end of its adjusted EBITDA range to INR 90 billion-INR 93 billion and narrowing its project construction guidance to 1.8 GW-2.4 GW. The manufacturing business is expected to contribute INR 11 billion-INR 13 billion to adjusted EBITDA.
- The company is strategically shifting its committed portfolio by reducing wind capacity from 2.5 GW to approximately 850 MW, replacing it with more battery energy storage systems (BESS) and solar capacity to lower CapEx, reduce execution risk, and improve cash flow predictability. Operating capacity has grown to 11.8 GW, with the overall portfolio reaching 19.2 GW.
Feb 16, 2026, 1:30 PM
ReNew Energy Global Reports Strong Q3 2026 Results and Updates Guidance
RNW
Earnings
Guidance Update
New Projects/Investments
- ReNew Energy Global reported a 31% increase in Adjusted EBITDA to INR 74.8 billion and an over sixfold increase in profit after tax for the nine months ending December 31, 2026.
- The company updated its fiscal year 2026 guidance, raising the lower end of Adjusted EBITDA to INR 90 billion-INR 93 billion and narrowing project construction to 1.8 GW-2.4 GW.
- ReNew is strategically shifting its committed portfolio by reducing wind capacity to approximately 850 MW and increasing battery energy storage systems (BESS) and solar, resulting in a total portfolio of 19.2 GW inclusive of approximately 1.5 GW of batteries. This aims to lower CapEx, reduce execution risk, and improve cash flow predictability.
- ReNew successfully refinanced a $600 million bond offering at a reduced interest rate of 6.5% (from 7.95%), saving approximately $9 million in annual interest expense, and completed 600 MW of asset sales for the year, raising $275 million.
- The company's headline leverage has consistently declined from 8.2x in December 2024 to 7x debt EBITDA at present, with a target to reach under 5.5x by 2028-2030.
Feb 16, 2026, 1:30 PM
ReNew Energy Global Announces Strong Q3 FY26 Financial and Operational Results
RNW
Earnings
Guidance Update
New Projects/Investments
- ReNew Energy Global reported strong financial performance for 9M FY26, with Adjusted EBITDA up 31% YoY to INR 74.8 billion and Profit After Tax (PAT) increasing 6.6x YoY to INR 9.6 billion.
- For Q3 FY26, revenue grew 36% YoY and Adjusted EBITDA increased 54% YoY to INR 21.4 billion (US$ 238 million), with manufacturing contributing INR 2.2 billion to Q3 FY26 Adjusted EBITDA.
- The company's operating portfolio reached 11.8 GW in Q3 FY26, having commissioned ~1.6 GW YTD FY26, and increased its overall FY26 Adjusted EBITDA guidance to INR 90-93 billion.
- ReNew Energy Global is focused on balance sheet discipline, targeting a consolidated leverage of ~5.5x for its fully constructed portfolio, and sold 600 MW of assets in FY26 YTD as part of its capital recycling strategy.
Feb 16, 2026, 1:30 PM
ReNew Energy Global Announces Q3 and Nine-Month FY26 Results
RNW
Earnings
Guidance Update
New Projects/Investments
- ReNew Energy Global reported a total income of INR 31,372 million (US$ 349 million) for Q3 FY26, an increase from INR 21,198 million (US$ 236 million) in Q3 FY25, and a net loss of INR 198 million (US$ 2 million), significantly reduced from a loss of INR 3,879 million (US$ 43 million) in Q3 FY25.
- For the first nine months of FY26, total income reached INR 111,087 million (US$ 1,236 million), and the company achieved a net profit of INR 9,608 million (US$ 107 million), compared to a net profit of INR 1,454 million (US$ 16 million) for the first nine months of FY25.
- Adjusted EBITDA for Q3 FY26 was INR 21,381 million (US$ 238 million), up from INR 13,882 million (US$ 155 million) in Q3 FY25, and for the first nine months of FY26, it was INR 74,840 million (US$ 833 million), an increase from INR 57,070 million (US$ 635 million) in the prior year period.
- As of December 31, 2025, the company's portfolio consisted of ~19.2 GWs (including 1.5 GW of BESS), and its commissioned capacity increased 7% year-over-year to ~11.4 GWs (+100 MW BESS).
- The company revised its FY26 guidance, expecting to complete construction of 1.8 to 2.4 GWs and projecting Adjusted EBITDA between INR 90 – INR 93 billion.
Feb 16, 2026, 8:40 AM
ReNew Energy Global Plc issues $600 million in green bonds
RNW
Debt Issuance
New Projects/Investments
- ReNew Energy Global Plc successfully issued USD 600 million in 6.5% senior secured green bonds due 2031 on January 22, 2026.
- The offering, made through its GIFT City subsidiary, was significantly oversubscribed by approximately 3.5x, attracting over USD 2 billion in investor demand.
- Proceeds will primarily redeem $525,000,000 of existing Diamond II Bonds, making it a debt-neutral transaction.
- This transaction results in an interest rate reduction from 7.95% to 6.5% and a maturity extension from 2026 to 2031.
- This marks the first-ever international bond issuance from a GIFT City issuer.
Jan 26, 2026, 1:14 PM
ReNew Energy Global Plc Receives Proceeds from Solar Project Sale
RNW
M&A
- ReNew Energy Global Plc announced on December 29, 2025, that it has received proceeds from a solar project sale previously announced on October 8, 2025.
- The enterprise value of the sale transaction is approximately $191 million, including net current assets.
- The transaction will result in a total cash inflow of approximately $97 million for ReNew.
- Around $82 million of the cash inflow has already been received, with the remaining $15 million expected within the next 14 days.
- The proceeds from the sale will be used for the repayment of existing holdco debt.
Dec 29, 2025, 12:30 PM
ReNew Announces Termination of Consortium Takeover Bid
RNW
M&A
Guidance Update
New Projects/Investments
- Masdar has withdrawn from the consortium, leading to the termination of all discussions regarding the proposed transaction for ReNew.
- The process, which began in December 2024, saw due diligence completed and transaction agreement negotiations substantially progressed, but no rationale was given for Masdar's withdrawal.
- ReNew's CEO, Sumant Sinha, and major shareholders, CPPIB and ADIA, have reaffirmed their confidence in the business, stating the withdrawal does not impact operations.
- The company's portfolio remains fully funded with over $1 billion in cash, and it has reaffirmed its megawatt and EBITDA guidance for the year.
- ReNew's board is actively evaluating options for realizing value from its businesses and will provide further updates at the next earnings call.
Dec 16, 2025, 1:30 PM
Quarterly earnings call transcripts for ReNew Energy Global.
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