ICRA revises outlook for one-third of wind, solar projects, sees near term headwinds
Factoring the headwinds faced by the wind and solar energy power segments coupled with a gradual deterioration in the liquidity profile of the Independent Power Producers (IPPs) due to payment delays from some distribution utilities, ICRA has revised their rating outlook of almost one-third of its rated portfolio.
About 20% (1.9 GW) of the rated portfolio in wind and solar power segments in terms of installed capacity has been downgraded, while the rating outlook has been revised for another 10% of the portfolio. The industry segment is facing significant other headwinds in the near-term which has impacted investor sentiments.
The overall tendering of solar PV projects has slowed down with the solar capacity addition in six months of FY’2020 remaining subdued at 2.9 GW.
