Exhibit 99.1 ReNew Announces Results for the First Quarter of Fiscal 2025 (Q1 FY25), ended June 30, 2024 August 15, 2024: ReNew Energy Global Plc ("ReNew" or "the Company") (Nasdaq: RNW, RNWWW), a leading decarbonization solutions company, today announced its unaudited consolidated IFRS results for Q1 FY25. Operating Highlights: Note: the translation of Indian rupees into U.S. dollars has been made at INR 83.33 to US$ 1.00. See note 1 for more information. Key Operating Metrics As of June 30, 2024, our tota ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of eve ...

Core Viewpoint - ReNew Energy Global PLC (RNW) is positioned as a strong investment opportunity due to significant upward revisions in earnings estimates, indicating a positive earnings outlook and potential for continued stock gains [1][2]. Earnings Estimate Revisions - Consensus earnings estimates for ReNew Energy Global have increased notably for both the next quarter and the full year, reflecting strong agreement among analysts in raising these estimates [2]. - Over the past 30 days, the Zacks Consensus Estimate for the current quarter has risen by 11.11%, with one estimate moving higher and no negative revisions [6]. - For the full year, the earnings estimate of $0.10 per share represents a decrease of 16.67% from the previous year [11]. Zacks Rank and Performance - ReNew Energy Global currently holds a Zacks Rank 2 (Buy), which is based on favorable estimate revisions and is associated with strong historical performance [4][8]. - The Zacks Rank system has shown that stocks rated 1 (Strong Buy) and 2 (Buy) tend to significantly outperform the S&P 500, with 1 ranked stocks averaging a +25% annual return since 2008 [5][8]. Analyst Optimism - The upward trend in estimate revisions reflects growing optimism among analysts regarding ReNew Energy Global's earnings prospects, which is expected to positively influence its stock price [9]. - The stock has gained 7.8% over the past four weeks, driven by solid estimate revisions and positive earnings growth prospects [8].

Investors might want to bet on ReNew Energy Global PLC (RNW) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. As such, the Zacks rating upgrade for ReNew Energy Global is essentially a positive comment on its earnings outlook that could have a favorable impact on its stock price. For ReNew Energy Global, rising earnings estimates and the consequent rating upgra ...

According to researchers at several universities across the globe, a price target is one of many pieces of information about a stock that misleads investors far more often than it guides. In fact, empirical research shows that price targets set by several analysts, irrespective of the extent of agreement, rarely indicate where the price of a stock could actually be heading. The average comprises six short-term price targets ranging from a low of $7.36 to a high of $10, with a standard deviation of $0.94. Wh ...

Financial Data and Key Metrics Changes - The company reported its first profitable year since listing, with a profit of INR4.1 billion or $0.12 per share [53] - Adjusted EBITDA for FY '24 was INR65.6 billion, slightly below the top end of the initial guidance range of INR66 billion [53][87] - Cash flow to equity was INR13.7 billion, exceeding guidance and including a gain of INR3.7 billion from asset sales [53][87] Business Line Data and Key Metrics Changes - The operational capacity increased by 1.9 gigawatts during FY '24, with 1.174 gigawatts from solar and 768 megawatts from wind [94] - The company’s contracted portfolio now stands at 15.6 gigawatts, including 2.2 gigawatts of recently signed agreements [54][94] - Wind plant load factors (PLFs) improved to 26.4% from 25.5% the previous year, while solar PLFs were slightly lower due to weather impacts [94] Market Data and Key Metrics Changes - India auctioned over 62 gigawatts of renewable energy capacity in FY '24, significantly surpassing the target of 50 gigawatts [37][61] - The demand for electricity in India has risen around 8% on average over the past four years, with peak demand hitting new highs [59][60] - The auction market has seen a four-fold increase in RE auctions compared to the previous fiscal year, indicating a robust market environment [57] Company Strategy and Development Direction - The company aims to deliver a pipeline of over 21 gigawatts by 2029, focusing on growth opportunities where returns exceed the cost of capital [30][31] - Asset recycling is a key strategy, allowing the company to fund growth without issuing new shares and enhancing returns [40][89] - The company is shifting its project development strategy to co-locate wind and solar projects to optimize transmission costs [21][19] Management's Comments on Operating Environment and Future Outlook - Management anticipates a surge in industrial demand growth in sectors such as electric vehicles and data centers, which will boost power demand [38] - The company expects to achieve 16% to 18% annual growth in adjusted EBITDA through the end of the decade, driven by internal cash flow generation [39][43] - The management noted that the renewable energy landscape is favorable, with declining solar module prices and increased auction tariffs expected [55][60] Other Important Information - The company has secured access to over 10 gigawatts of connectivity for future projects, ensuring competitive advantages in bidding [76][78] - The company has received recognition for its ESG efforts, being named among the top rated ESG companies by Sustainalytics [100] Q&A Session Summary Question: Are the outputs from the newly operational complex projects in line with expectations? - Management indicated that it is too early to assess the performance of the complex projects as they are not yet fully operational [5] Question: Are there any performance issues with older wind assets? - Management reported no significant performance issues with older assets, which are only 12-13 years old [8] Question: What implications do recent transmission changes have on strategy? - Management noted that while there hasn't been a significant change in behavior yet, the upcoming changes could lead to a shift in procurement strategies among states [14][15] Question: How does the company plan to fund its growth? - The company plans to fund growth through a mix of asset sales, cash on balance sheet, and internal cash generation, without needing to raise equity [93][86]

Q4 FY24 results and long-term outlook This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by ReNew Energy Global, the markets in which ReNew Energy Global operates and ReNew Energy Global's future potential financial and operational results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "futur ...

ReNew Energy Global shares have lost about 20.8% since the beginning of the year versus the S&P 500's gain of 10.9%. ReNew Energy Global PLC (RNW) came out with quarterly earnings of $0.02 per share, beating the Zacks Consensus Estimate of a loss of $0.06 per share. This compares to break-even earnings per share a year ago. These figures are adjusted for non-recurring items. What's Next for ReNew Energy Global? This quarterly report represents an earnings surprise of 133.33%. A quarter ago, it was expected ...

ReNew Energy Global Plc (NASDAQ:RNW) Q3 2024 Earnings Conference Call February 20, 2024 8:30 AM ET Company Participants Nathan Judge - Head of IR Sumant Sinha - Founder, Chairman, and CEO Kailash Vaswani - CFO Vaishali Nigam Sinha - Co-Founder and Chairperson of Sustainability Conference Call Participants Nikhil Nigania - Bernstein Justin Clare - ROTH Capital Partners Puneet Gulati - HSBC Maheep Mandloi - Mizuho Operator Thank you for standing by, and welcome to the ReNew Third Quarter Fiscal Year 2024 Earn ...

Q3 FY24 Earnings Presentation February 20, 2024 This announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services offered by ReNew Energy Global, the markets in which ReNew Energy Global operates and ReNew Energy Global's future potential financial and operational results. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strateg ...