The sun is shining on thermal power companies. Here’s why
Thermal power companies—long facing a negative outlook because of India’s clean energy push—have seen their credit ratings improve in recent months, on the back of surging demand for short-term contracts for firm power, or electricity guaranteed to be available at all times.
As of 2024-25, 79% of the thermal power companies covered by Care Ratings had a credit rating of A- or higher, up from 67% in 2021-22.
