Analysts at HSBC downgraded the rating of Azure Power to \u2018hold\u2019 from \u2018buy\u2019, as the government increasingly finds it harder to find buyers of solar power. \u201cAzure\u2019s bid for a 4 giga-watt (GW) renewable plus manufacturing plant won in October 2019 got converted into a letter of award in June 2020 but still awaits a power purchase agreement as state power distribution companies (discoms) remain financially stressed,\u201d HSBC said.<\/p>\n
Azure\u2019s untied capacity is a part of the 12 GW projects awarded in the maiden auction for the manufacturing-linked solar scheme, through which Adani Green Energy will build 8 GW generation capacity and Azure Power will develop 4 GW and supply power at Rs 2.92\/unit. As a part of the deal, the two companies will also build 3 GW of solar manufacturing capacities in the country (Adani 2 GW and Azure 1 GW). As FE recently reported, to address the issue of solar projects not finding power buyers, the government is planning to bundle higher priced projects (including Adani and Azure\u2019s Rs 2.92\/unit bids) with the ones quoting lower tariffs in the recent auctions, and offer them to discoms at an average composite tariff.<\/p>\n","protected":false},"excerpt":{"rendered":"
Analysts at HSBC downgraded the rating of Azure Power to \u2018hold\u2019 from \u2018buy\u2019, as the government increasingly finds it harder to find buyers of solar power. \u201cAzure\u2019s bid for a 4 giga-watt (GW) renewable plus manufacturing plant won in October 2019 got converted into a letter of award in June 2020 but still awaits a power purchase agreement as state power distribution companies (discoms) remain financially stressed,\u201d HSBC said. Azure\u2019s untied capacity is a part of the 12 GW projects awarded in the maiden auction for the manufacturing-linked solar scheme, through which Adani Green Energy will build 8 GW generation […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-375831","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/375831","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=375831"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/375831\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=375831"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=375831"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=375831"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}