Podcast
Questions and Answers
In what reporting framework are ReNew's consolidated financial statements prepared?
In what reporting framework are ReNew's consolidated financial statements prepared?
- Generally Accepted Accounting Principles (GAAP)
- International Financial Reporting Standards (IFRS) (correct)
- Indian Accounting Standards (Ind AS)
- Sarbanes-Oxley Act (SOX)
ReNew's external assurance for FY 2023-24 was carried out in accordance with ISAE 3000 only.
ReNew's external assurance for FY 2023-24 was carried out in accordance with ISAE 3000 only.
False (B)
By what year does ReNew aim to achieve carbon neutrality for its Scope 1 and Scope 2 emissions?
By what year does ReNew aim to achieve carbon neutrality for its Scope 1 and Scope 2 emissions?
2040
What percentage of women serve as directors on ReNew's Board?
What percentage of women serve as directors on ReNew's Board?
ReNew is a signatory to the ___________, which promotes ethical operations.
ReNew is a signatory to the ___________, which promotes ethical operations.
Match ReNew's social responsibility focus areas with their descriptions:
Match ReNew's social responsibility focus areas with their descriptions:
What is ReNew's goal for sourcing electricity for its operations by 2030?
What is ReNew's goal for sourcing electricity for its operations by 2030?
ReNew's net-zero target includes Scope 1, 2, and 3 emissions.
ReNew's net-zero target includes Scope 1, 2, and 3 emissions.
Name one of the industries for which ReNew offers decarbonization solutions.
Name one of the industries for which ReNew offers decarbonization solutions.
ReNew is actively trying to increase the percentage of people from this discipline?
ReNew is actively trying to increase the percentage of people from this discipline?
ReNew aims to maintain _______ lost time injuries.
ReNew aims to maintain _______ lost time injuries.
What sustainable cookstoves is ReNew facilitating the adoption of?
What sustainable cookstoves is ReNew facilitating the adoption of?
ReNew has a net-zero target acknowledged by the Science Based Targets initiative (SBTi).
ReNew has a net-zero target acknowledged by the Science Based Targets initiative (SBTi).
What award did the COP28 Presidency give to ReNew?
What award did the COP28 Presidency give to ReNew?
What percentage of ReNew's electricity was generated from renewables in FY 2023-24?
What percentage of ReNew's electricity was generated from renewables in FY 2023-24?
ReNew is the only renewable energy Company to receive the Lighthouse Award by the ____________ twice.
ReNew is the only renewable energy Company to receive the Lighthouse Award by the ____________ twice.
Match the following initiatives with their descriptions:
Match the following initiatives with their descriptions:
The integrated report has been created in alignment with which of these?
The integrated report has been created in alignment with which of these?
As a just and ethical company ReNew does not make any political contributions.
As a just and ethical company ReNew does not make any political contributions.
Mention one location where ReNew has installed solar rooftop plants at its manufacturing facilities.
Mention one location where ReNew has installed solar rooftop plants at its manufacturing facilities.
Which initiative positively impacted the life of 12,000 farmers?
Which initiative positively impacted the life of 12,000 farmers?
ReNew has committed to planting ______ trees under WEF's 1t.org initiative.
ReNew has committed to planting ______ trees under WEF's 1t.org initiative.
Match the environmental certifications what ReNew has?
Match the environmental certifications what ReNew has?
What metric has ReNew increased by to better manage human capital?
What metric has ReNew increased by to better manage human capital?
40% gender diversity rates at the top leadership of ReNew.
40% gender diversity rates at the top leadership of ReNew.
With which metric can it be said that The ethical practices of ReNew can be measured?
With which metric can it be said that The ethical practices of ReNew can be measured?
ReNew had a whopping number of auctions won in FY 23-24. What was it?
ReNew had a whopping number of auctions won in FY 23-24. What was it?
ReNew uses a variety of sources to guide and propel the organisation ahead, with being ____ directors on the board.
ReNew uses a variety of sources to guide and propel the organisation ahead, with being ____ directors on the board.
How did ReNew manage its environmental safety?
How did ReNew manage its environmental safety?
In accordance with which standards were the consolidated financial statements of ReNew Group prepared for the fiscal year ended March 31, 2024?
In accordance with which standards were the consolidated financial statements of ReNew Group prepared for the fiscal year ended March 31, 2024?
ReNew's external assurance for FY 2023-24 was carried out in accordance with International Standard on Auditing (ISA) 3000.
ReNew's external assurance for FY 2023-24 was carried out in accordance with International Standard on Auditing (ISA) 3000.
What does ReNew consider to be the 'real metric' of success?
What does ReNew consider to be the 'real metric' of success?
ReNew is committed to a ______ commitment as a testament to environmental stewardship.
ReNew is committed to a ______ commitment as a testament to environmental stewardship.
Match ReNew's strategic area with its corresponding goal:
Match ReNew's strategic area with its corresponding goal:
Which of the following is NOT a focus area of ReNew's Corporate Social Responsibility (CSR) initiatives?
Which of the following is NOT a focus area of ReNew's Corporate Social Responsibility (CSR) initiatives?
ReNew aims to cross 20 GW of installed capacity by 2029.
ReNew aims to cross 20 GW of installed capacity by 2029.
What type of backward integration has ReNew initiated within the renewable energy value chain?
What type of backward integration has ReNew initiated within the renewable energy value chain?
ReNew intends to sequester 5-20 tonnes of ______ per hectare annually.
ReNew intends to sequester 5-20 tonnes of ______ per hectare annually.
Match the category with its detail:
Match the category with its detail:
What has been the company's appoximate carbon intensity of electricity generation?
What has been the company's appoximate carbon intensity of electricity generation?
ReNews sustainabilty efforts haven't earned then a spot in the 2023 MIT Technology Review's list of 15 Climate Tech Companies to Watch.
ReNews sustainabilty efforts haven't earned then a spot in the 2023 MIT Technology Review's list of 15 Climate Tech Companies to Watch.
What has been Refinitive's rating toward ReNew?
What has been Refinitive's rating toward ReNew?
ReNew's MSCI rating is '______' and it places the Company among the Industry Leaders category.
ReNew's MSCI rating is '______' and it places the Company among the Industry Leaders category.
Match the goal to the given project:
Match the goal to the given project:
ReNew has recently partnered with which international company for the development of green ammonia production?
ReNew has recently partnered with which international company for the development of green ammonia production?
ReNew has set both quantitative and qualitative targets in its sustainability commitment.
ReNew has set both quantitative and qualitative targets in its sustainability commitment.
Who are the Co-chairs of the Alliance of CEO Climate Action Leaders India?
Who are the Co-chairs of the Alliance of CEO Climate Action Leaders India?
Our global headquarters have a ______ -member Board of Directors to provide direction and support.
Our global headquarters have a ______ -member Board of Directors to provide direction and support.
Match from the following table some of ReNew's key people with with their area of expertise:
Match from the following table some of ReNew's key people with with their area of expertise:
Which certification is currently held accross all the sites?
Which certification is currently held accross all the sites?
From 2020 ReNew's COâ‚‚ emissions have been lower during the reporting period.
From 2020 ReNew's COâ‚‚ emissions have been lower during the reporting period.
What is ReNew's planned tree-planting target under One Trillion Trees (1t.org)?
What is ReNew's planned tree-planting target under One Trillion Trees (1t.org)?
ReNew aims to increase their internal employees'______ in maintenance activities to 31%.
ReNew aims to increase their internal employees'______ in maintenance activities to 31%.
Match the following pillars for environmental conservatin with their notable activities:
Match the following pillars for environmental conservatin with their notable activities:
Regarding Intellectual Capital, which of the following is a data security practice benchmarked by ReNew?
Regarding Intellectual Capital, which of the following is a data security practice benchmarked by ReNew?
ReNew reported zero cases of data breaches in their Intellectual Capital Report.
ReNew reported zero cases of data breaches in their Intellectual Capital Report.
What have the ReNew India Iniitiative and other CSR initiatives helped provide access to?
What have the ReNew India Iniitiative and other CSR initiatives helped provide access to?
With a current headcount of 3,900+ employees, ReNew's employee diversity stands percentage stands at ______ percent.
With a current headcount of 3,900+ employees, ReNew's employee diversity stands percentage stands at ______ percent.
Match these terms to its definition/goal:
Match these terms to its definition/goal:
What economic area has ReNew targeted?
What economic area has ReNew targeted?
As a demonstration of net-zero efforts, ReNew saw a 5% increase in Scope 1 and 2 for 2023-2024
As a demonstration of net-zero efforts, ReNew saw a 5% increase in Scope 1 and 2 for 2023-2024
What award was recognised ReNew from COP28?
What award was recognised ReNew from COP28?
With ambitions to create a workforce with equal values, ReNew aims to achieve zero ______ time injuries by 2025.
With ambitions to create a workforce with equal values, ReNew aims to achieve zero ______ time injuries by 2025.
Match each pillar of ReNew's approach to natural capital:
Match each pillar of ReNew's approach to natural capital:
For approximately what percentage of the local communities is procurement being focused on?
For approximately what percentage of the local communities is procurement being focused on?
Community and Nature based solutions have potiential to reduce over 10 tonnes of COâ‚‚.
Community and Nature based solutions have potiential to reduce over 10 tonnes of COâ‚‚.
What does ReD. stand for?
What does ReD. stand for?
With innovation to advance, ReNew is targeting ______ percent efficiency increase in maintenance activities.
With innovation to advance, ReNew is targeting ______ percent efficiency increase in maintenance activities.
Match what the given GW are powered by:
Match what the given GW are powered by:
ReNew's Business activities are currently overseen to compliance using what standard?
ReNew's Business activities are currently overseen to compliance using what standard?
The code of business coduct and ethics ensures both sustinabilility and transparency?
The code of business coduct and ethics ensures both sustinabilility and transparency?
What percent of ESG is overseen by an Independent Board Level Comittee?
What percent of ESG is overseen by an Independent Board Level Comittee?
ReNew does not make ______ donations
ReNew does not make ______ donations
Match the following to help enable ReNew remain in force with global changes:
Match the following to help enable ReNew remain in force with global changes:
ReNew's financial statements for FY 2023-24 are in accordance with what accounting standards?
ReNew's financial statements for FY 2023-24 are in accordance with what accounting standards?
ReNew has a net-zero commitment targeting the year 2050.
ReNew has a net-zero commitment targeting the year 2050.
ReNew is committed to using __________ sources for 50% of electricity across operations by 2025.
ReNew is committed to using __________ sources for 50% of electricity across operations by 2025.
What is the total solar module production capacity of ReNew's manufacturing plants?
What is the total solar module production capacity of ReNew's manufacturing plants?
What initiative do ReNew and WEF partner for forest restoration?
What initiative do ReNew and WEF partner for forest restoration?
ReNew aims to have a 50% gender diversity rate within its workforce by 2030.
ReNew aims to have a 50% gender diversity rate within its workforce by 2030.
What is the Terra Carta Seal awarded for?
What is the Terra Carta Seal awarded for?
Which digital center does ReNew use for advancing energy efficiencies?
Which digital center does ReNew use for advancing energy efficiencies?
In FY 2023-24, ReNew facilitated the adoption of __________ cookstoves in India.
In FY 2023-24, ReNew facilitated the adoption of __________ cookstoves in India.
Match the following initiatives with their respective focus areas:
Match the following initiatives with their respective focus areas:
ReNew has received the Lighthouse Award by the World Economic Forum only once.
ReNew has received the Lighthouse Award by the World Economic Forum only once.
What specific areas of the RE value chain has ReNew initiated backward integration into?
What specific areas of the RE value chain has ReNew initiated backward integration into?
What third-party standards does the ESMS stand resolute and aligned with?
What third-party standards does the ESMS stand resolute and aligned with?
Current carbon intensity of Renew's electricity generation stand at modest __________ g COâ‚‚/kWh.
Current carbon intensity of Renew's electricity generation stand at modest __________ g COâ‚‚/kWh.
What % of MSMEs comprises indian supplier?
What % of MSMEs comprises indian supplier?
We anticipate sequestering 5-20 tonnes of carbon per square kilometer annually.
We anticipate sequestering 5-20 tonnes of carbon per square kilometer annually.
With how many leading global standards data security practices are benchmarked with ReNew's intellectual property?
With how many leading global standards data security practices are benchmarked with ReNew's intellectual property?
Our employee diversity stands at what percent
Our employee diversity stands at what percent
In clean energy, ReNew is the only company to have received [blank award] by WEF?
In clean energy, ReNew is the only company to have received [blank award] by WEF?
Flashcards
ReNew's main approach
ReNew's main approach
Innovating solutions with sustainability, equity, and responsibility at the core.
ReNew's annual information
ReNew's annual information
Form 20-F and an assurance statement from Ernst & Young Associates LLP.
Additional info categories
Additional info categories
Economic, environmental, social, and governance.
ReNew's generation capacity
ReNew's generation capacity
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ReNew's solar manufacturing
ReNew's solar manufacturing
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ReNew's Storage Solutions
ReNew's Storage Solutions
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ReNew & green hydrogen
ReNew & green hydrogen
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ReNew's carbons market position
ReNew's carbons market position
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ReNew's gross MW milestone
ReNew's gross MW milestone
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ReNew's Solars manufacturing factories
ReNew's Solars manufacturing factories
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ReNew and gender ratio
ReNew and gender ratio
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Study Notes
ReNew: Innovating Clean Energy Solutions - FY 2023-24
- Throughout human history, energy has been a key driver, transforming aspirations into realities.
- The growing need for sustainability is driving a transition to cleaner energy.
- ReNew Energy Global PLC innovates in clean energy, going beyond traditional methods with advancements in:
- Renewable energy generation
- Firm power
- Energy storage
- Digitalisation
- Carbon markets
- Green fuels
- The organisation integrates sustainability, nurturing equity, and responsible stewardship, creating value and leading in climate resilience.
ReNew's Public Information
- ReNew provides stakeholders with relevant information about company performance.
- The consolidated financial statements for FY ended March 31, 2024, are based on International Financial Reporting Standards (IFRS).
- Assurance for FY 2023-24 was carried out by Ernst and Young Associates LLP, following international standards (ISAE).
Sustainability, Equity, Responsibility
- The company focuses on environmental actions with a commitment to net-zero and the sustainable use of resources.
- People power ReNew's operational excellence, focusing on safety and inclusivity for employees and communities.
- ReNew collaborates with regulators and advocates for policies that enhance sustainability and industry advancement.
Innovations in Clean Energy Solutions
- Has a world-class clean energy portfolio, with a gross capacity of approximately 15.6 GW.
- The organization is manufacturing solar components, including cells and modules, with plants in Rajasthan and Gujarat.
- Combined, these plants produce 6.4 GW of solar modules and 2.5 GW of solar cells.
Renewable Energy Generation
- Generation resources have a total capacity of 15.6 GW from solar, wind, and hydro projects.
- It was the first Indian RE company to reach milestones of 1, 2, 5, and 7 GW of installed capacities.
- They have exceeded 10 GW of gross RE assets, with plans to double this in the next five years.
Energy Storage
- Renewable energy is being transformed into dispatchable and controllable energy through storage solutions.
- The portfolio includes a 400 MW Peak Power Project and a 1.3 GW Round-the-Clock (RTC) Power Project.
Digital Energy Services
- Digital technologies increase energy efficiencies.
- State-of-the-art monitoring centers such as ReNew Diagnostics Centre and ReNew Command and Control Centre efficiently monitor energy projects.
Green Hydrogen and Carbon Markets
- ReNew is exploring green hydrogen opportunities, including a project in Egypt targeting 220,000 tonnes annually.
- Joint ventures exist with Indian Oil Corporation Limited (IOCL) and Larsen & Toubro (L&T) to develop green hydrogen in India.
- Agroforestry initiatives aim to sequester 5-20 tonnes of carbon per hectare annually.
- Efficient cookstoves avoid tonnes of carbon emissions annually per stove, with over 175,000+ cookstoves being facilitated in India.
- Explores techniques like direct air capture and biochar for effective CO2 storage.
Corporate Information
- ReNew Energy Global Plc is listed on NASDAQ.
- Has a strong global workforce of 3,900+ employees.
- 19,000+ Mn kWh of clean energy generated in FY 2023-24.
- Anticipates sequesting 5-20 tonnes of carbon per hectare annually.
International Focus
- Strategically expands footprint in the domestic market.
- It has demonstrated through our community and nature-based solutions, by establishing an ecosystem capable of potentially reducing more than 25 million tonnes of CO2 over 5-7 years.
Other highlights
- Net-zero 2040 target validated.
- 10% reduction in Scope 1 and 2 emissions in FY 2023-24.
- Carbon intensity is 80% lower than the Indian power sector.
- Impacted 1.4 million people and earned CII ITC Sustainability Award.
Commitment
- The commitment to net-zero is linked to leadership appraisals.
- Earned spot in MIT Technology Review's 15 Climate Tech Companies.
- Aim to achieve zero time injuries by 2025.
- 14% diversity with 40% board and 10% STEM roles for women.
Going forward
- Will strategically expand footprint and double portfolio in five years.
- Focus will be on in-house capabilities, green hydrogen, energy storage, and smart grids.
- It is dedicated to drive sustainable growth, innovation, and leadership.
Reporting on 10 GW
- One of only two renewable energy players in India to reach the milestone.
- Deepening presence across core renewables value chain; initiating backward integration into solar manufacturing.
- Commenced operations at solar manufacturing facilities in Jaipur, Rajasthan, and Dholera, Gujarat.
Ambitions
- Deepening presence across the core renewables value chain.
- Reported a profit of INR 4.1 billion during the year, showcasing inherent cash-generation capability.
- Achieved new heights winning about 8 GW of capacity since April 2023, which is about 60% more than portfolio.
- Clean energy pipeline now stands at an impressive 21.4 GW.
Achievements
- Contributed to the reduction of 0.6% of annual emissions of the country through core business offerings.
- Initial agreement signed with JERA.
- Contributed to the reduction of 0.6% of annual emissions of the country through core business offerings.
Reflections
- ReNew to decarbonise Mobility and Mining in Karnataka: to set up a 27.2 MW renewable energy project of Toyota for its car manufacturing plant in Bidadi, and a 43 MW power project for Sandur to kickstart its decarbonisation journey. These two projects together will help abate 150 tonnes of carbon dioxide (COâ‚‚) emissions per annum.
- Announced Clinton Global Initiative commitment to Business-Driven clean energy and education in India.
- Was recognised in Top 15 Climate Tech Companies to Watch .
- CSR Initiatives Positively Support 1 million Lives pan India.
- The Partnership with JERA to Evaluate Joint Development of Green Ammonia Project in India.
ReNew's Sustainability Targets
- Get validated as carbon neutral and develop Science-based Targets.
- Become water positive, zero solid-waste-to-landfill.
- Achieve 30% female representation and rank among the "Top five".
- Pilot an all women initiative
What's inside ReNew
| Topics | Details |
|---|---|
| Reflections from the leaders | FY 2023-24 marked our growth with a reported profit of INR 4.1 billion. |
| The report | This significant milestone showcases our inherent cash-generation capability. |
| Our key activities | Achieved new heights with an equivalent upsurge in the national electricity demand. |
| Our targets | India stands on the brink of a profound economic evolution in fiscal year 2024. |
| Our value creation | Solidifying our position achieved new heights empowered by our vision to accelerate the clean energy transition. |
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