CARE downgrades outlook for eleven solar generators
HYDERABAD: CARE RatingsNSE -3.43 % downgraded the outlook for 11 solar generators with an aggregate capacity of 574 MW to negative to reflect their weakening liquidity position arising from delays in getting payments from Telangana power distribution companies.
“Off-taker risk, stemming from delays in payments by discoms, has been a major rating weakness for solar power generators exposed to Telangana,” CARE Ratings said. “Solar power generators in Telangana have been facing delays in payments by up to 11 months.”
Telangana had 3,621 MW of installed solar power capacity at the end of June, of which CARE has rated projects with an aggregate exposure towards Telangana discoms of about 900 MW.
