CARE Rating revises outlook on 11 solar firms to negative
Rating agency CARE Ratings has revised its outlook to negative on the borrowing programmes of 11 solar power producers due to delayed payment to them by distribution companies in Telangana for electricity purchased.
In a release on Monday, CARE Ratings said the 11 companies had a combined installed capacity of 574 MW.
It has also downgraded the ratings on borrowing programmes of two solar power generators which have installed capacity of 80 MW and sell electricity to Discoms in the State.
“The revision in outlook and ratings reflects increased counter-party risk and weakening in the liquidity position of these generators owing to significant delays in the receipt of payments from the off-takers-Telangana discoms,” it said.
