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Cover Story | October 2018

Highest-growth (power) generation company in the last year (private company- wind power) - ReNew Power

ReNew Power was founded in 2011 and commenced its operations in 2012 with its first project having a capacity of 25.20 MW, located in Jasdan, Gujarat. The company eventually increased its operational capacity from 545.76 MW as of March 31, 2015 to 986.90 MW as of March 31, 2016 and became the first Indian renewable energy IPP to exceed 1 GW of operational capacity in April 2016. It then doubled its operational capacity to 1.99 GW as of March 31, 2017 and again nearly doubled it to 3.92 GW as of March 31, 2018. Today, ReNew Power is India's largest renewable energy IPP (Independent Power Producer) with a capacity of more than 5,800 MW of wind and solar power assets across the country. Of this, more than 3,900 MW of assets are already operational. <p></p> <p>The company's utility scale wind and solar energy projects were spread over eight states across India with no single state accounting for more than 26.81 per cent of its total utility scale wind and solar energy operational capacity as of March 31, 2018. The company's portfolio as a whole provides a diversified balance of wind and solar projects. Its offtakers include a mix of public utilities and private companies with no single offtaker accounting for more than 17.74 per cent of its total capacity as of March 31, 2018.</p> <p>With its sound financial position and demonstrated track record of acquisitions adhering to a disciplined investment framework, it is well-positioned to benefit from consolidation opportunities in the competitive Indian renewable energy industry. The company has recently completed the acquisition of a portfolio of wind and solar energy projects of Ostro Energy, whose projects are largely operational and diversified across wind and solar energy. This is among the largest acquisitions in the Indian renewable energy industry to date. In November 2017, ReNew completed the acquisition of a portfolio of wind energy projects of KCT. It has also completed smaller acquisitions of other renewable energy projects. Out of its total capacity of 5.85 GW, around 1,108.10 MW was acquired from Ostro Energy, 103.10 MW was acquired from KCT and 42.00 MW was acquired from others.</p> <p> <span style="font-weight: bold;">Key Strengths</span><br /> - Market leader in the Indian renewable energy industry.<br /> - Disciplined project selection and execution.<br /> - Project portfolio diversification across resource, geography, offtakers and vendors.<br /> - Operational and business systems excellence.<br /> - Efficient capital structure with access to multiple funding sources.<br /> - Experienced professional management team and strong board governance.</p> <p><span style="font-weight: bold;">Strategies</span><br /> - Maintain the market leadership position through diversified growth.<br /> - Continue to optimise execution and operational efficiencies.<br /> - Continue to pursue accretive inorganic growth and new business opportunities. <br /> - Continue to diversify and optimise the company's financing portfolio.</p>
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17 Oct 2016
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20 Sep 2016
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20 Jun 2016
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