Research analysts who have asked questions during ReNew Energy Global earnings calls.
JC
Justin Clare
Roth MKM
4 questions for RNW
Also covers: AMPS, AMSC, ATKR +10 more
MM
Maheep Mandloi
Mizuho Financial Group
3 questions for RNW
Also covers: ARRY, BE, CSIQ +10 more
NN
Nikhil Nigania
AllianceBernstein
3 questions for RNW
Puneet Gulati
HSBC
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.
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- Masdar has withdrawn from the consortium, leading to the termination of all discussions regarding the proposed transaction for ReNew.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
ReNew Announces Termination of Proposed Transaction Following Masdar's Withdrawal
RNW
M&A
Guidance Update
New Projects/Investments
- Masdar has withdrawn from the consortium, leading to the termination of the proposed transaction for ReNew, despite due diligence being complete and transaction agreement negotiations substantially progressed.
- No rationale was provided for Masdar's withdrawal, which occurred after a year-long process.
- ReNew's major shareholders (CPPIB, ADIA) and CEO Sumant Sinha reaffirmed their confidence in the business, stating the withdrawal does not impact operations or funding.
- The company maintains over $1 billion in cash available, reaffirmed its megawatt and EBITDA guidance, and will evaluate strategic options for shareholder value, with further updates expected at the next earnings call.
Dec 16, 2025, 1:30 PM
ReNew Energy Global Plc Acquisition Bid Terminated
RNW
M&A
Guidance Update
- Masdar has withdrawn from the Consortium, resulting in the termination of the proposed transaction to acquire the entire issued or to be issued share capital of ReNew Energy Global Plc.
- The proposed offer price for the acquisition had increased from $7.07 per share (announced December 11, 2024) to a best and final offer of $8.15 per share (October 14, 2025) prior to Masdar's withdrawal.
- Sumant Sinha (Founder, Chairman and CEO), CPP Investments, and ADIA have reaffirmed their strong support for the business, and the company has reconfirmed its full-year guidance.
- The underlying business continues to perform strongly, with commissioned capacity up 22% YoY and Adjusted EBITDA up 24% YoY in H1 FY26, and the manufacturing business's FY26 Adjusted EBITDA guidance was revised upwards from INR 5-7 billion to INR 10-12 billion.
Dec 15, 2025, 2:30 PM
ReNew Energy Global Plc announces sale of Gadag Transmission Limited
RNW
M&A
- ReNew Energy Global Plc has signed a definitive agreement to sell Gadag Transmission Limited (GTL) to IndiGrid Infrastructure Trust, as announced on December 02, 2025.
- The transaction has a total enterprise value of approximately US$41 million, with an additional ~US$6 million earn-out related to Change-In-Law (CIL).
- After the transfer of outstanding debt to the buyer, the sale is expected to result in a total cash inflow of approximately US$15 million for ReNew, including the CIL claim.
- GTL, an Inter-State Transmission System project in Karnataka operational since September 2024, generates an annual revenue of approximately US$4 million.
Dec 2, 2025, 9:30 PM
ReNew Energy Global Plc provides update on possible cash offer
RNW
M&A
Takeover Bid
- ReNew Energy Global Plc provided an update on a possible cash offer from a consortium including Masdar, CPP Investments, ADIA, and Sumant Sinha, to acquire the entire issued and to be issued share capital not already owned by the consortium for US$8.15 per share.
- The Special Committee and the Consortium have made significant progress on the transaction agreement, which is currently in near-final form.
- The Consortium and the Company intend to enter into the transaction agreement no later than the week of December 15, 2025, at which point a further announcement will be made, though the Company cautions that a binding offer is not guaranteed.
Dec 1, 2025, 12:30 PM
ReNew Energy Global Announces Q2 FY26 Results and FY26 Guidance
RNW
Earnings
Guidance Update
New Projects/Investments
- ReNew Energy Global reported Total Income of INR 38,557 million (US$ 434 million) for Q2 FY26 and INR 79,715 million (US$ 898 million) for H1 FY26.
- Net profit for H1 FY26 increased by 84% year-over-year to INR 9,806 million (US$ 110 million).
- The company's commissioned capacity grew 12.8% year-over-year to approximately 11.4 GWs (+150 MWh BESS) as of September 30, 2025.
- ReNew reiterates its FY26 guidance, expecting Adjusted EBITDA between INR 87 – INR 93 billion and Cash Flow to equity between INR 14 – INR 17 billion.
Nov 10, 2025, 2:02 PM
ReNew Reports Q2 2026 Results, Updates Guidance, and Provides Privatization Offer Status
RNW
Earnings
Guidance Update
New Projects/Investments
Takeover Bid
- ReNew reported INR 53.5 billion in adjusted EBITDA for the first half of fiscal year 2026, marking a 24% year-on-year growth, and reaffirmed its FY2026 adjusted EBITDA guidance of INR 87-93 billion, anticipating results at the higher end of this range.
- The manufacturing business contributed INR 8.6 billion to adjusted EBITDA in H1 FY2026, leading to an upward revision of its FY2026 adjusted EBITDA guidance to INR 10-12 billion. Construction of a new 4 GW TOPCon cell facility is progressing, with full commissioning expected by the end of fiscal 2027.
- The company commissioned over 1.2 gigawatts of renewable energy capacity year-to-date in FY2026 and reiterated its target to complete construction of 1.6-2.4 gigawatts for the full fiscal year.
- A special committee has received a non-binding privatization offer from a consortium, with a binding offer expected in November.
Nov 10, 2025, 1:30 PM
ReNew Reports Strong H1 FY 2026 Results and Updates Guidance
RNW
Earnings
Guidance Update
Takeover Bid
- ReNew reported an adjusted EBITDA of INR 53.5 billion for the first half of fiscal year 2026, marking a 24% growth year-on-year, with revenue increasing by over 50% compared to the previous year. The manufacturing business contributed INR 8.6 billion to adjusted EBITDA in H1 FY 2026.
- The company reiterated its FY 2026 adjusted EBITDA guidance of INR 87 billion-93 billion, expecting to be at the higher end of this range, and revised its manufacturing adjusted EBITDA guidance upwards to INR 10 billion-12 billion.
- ReNew commissioned over 2.1 GW of renewable energy capacity since October last year, representing a 22% growth in its portfolio after adjusting for asset sales, and signed PPAs for 3.8 GW over the past four quarters.
- Construction of the new 4 GW TOPCon cell facility is on track, with pre-commissioning expected by Q2 2027 and full commissioning by the end of fiscal year 2027. Additionally, the special committee expects a binding offer for privatization from the consortium in November.
Nov 10, 2025, 1:30 PM
Quarterly earnings call transcripts for ReNew Energy Global.
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