Well, Velocity is stricly space-preserving.
So even those line breaks in your code are line breaks in the email (whether or not they affect layout, due to the HTML's whitespace-swallowing behavior).
To suppress the final line break, do:
${date.format(
$FRIENDLY_24H_DATETIME_WITH_FRIENDLY_TZ,
$nextRenewSubDate
)}##
... View more