CARE ratings sees higher counterparty risk from Telangana discoms
CARE Ratings has maintained a negative outlook for 13 solar generators that are selling electricity to financially-stressed distribution companies (discoms) in Telangana.
The aggregate installed capacity of generators that are being rated is 671 Mw.
Of the total 14, CARE Ratings had downgraded the ratings of the borrowing programmes of four solar power generators that have installed capacity of 257 Mw.
The rating action reflects increased counterparty risk and weakening liquidity position of these generators owing to significant delays in the receipt of payments from these discoms.
Amod Khanorkar, senior director, CARE Ratings, said, solar power generators in Telangana have been facing delays in payments by 10 months. They saw a marginal improvement compared to the last review on account of commencement of payments by Telangana.
