Indian renewables credit quality intact: Moody s
By IANS |
Published on
Tue, Mar 9 2021 13:57 IST |
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Moody s.. Image Source: IANS News
Singapore, March 9 : Although Indian renewable energy companies failed to meet generation targets in fiscal years 2019 and 2020 that ended in March 2019 and March 2020 respectively, they will be able to withstand the impact of this underperformance thanks to large and diversified portfolios, according to a report by Moody s Investors Service. About 15%-20% of Indian wind and solar projects did not meet capacity utilization targets in fiscal years 2019 and 2020 because of wind generation curtailments and lower irradiance for solar projects, which were responsible for 56% and 68% of the underperformance respectively, said Abhishek Tyagi, a Moody s Vice President and Senior Analyst.
Acquisition by Total SA of 50% equity stake in a
joint venture into Adani Green Energy Twenty Three Ltd, which will own the targets, according to reports.
AZB & Partners advised the targets, including 11 subsidiaries of
Adani Green Energy Ltd (namely 1. Adani Green Energy (UP) Limited (AGEUPL) 2. Adani Green Energy (Tamil Nadu) Limited (AGETNL) 3. Adani Renewable Energy (RJ) Limited (ARERJL) 4. Kamuthi Renewable Energy Limited (KREL) 5. Kamuthi Solar Power Limited (KSPL) 6. Kodangal Solar Parks Private Limited (KSPPL) 7. Prayatna Developers Private Limited (PDPL) 8. Parampujya Solar Energy Private Limited (PSEPL) 9. Ramnad Renewable Energy Limited (RREL) 10. Ramnad Solar Power Limited (RSPL) and 11. Wardha Solar (Maharashtra) Power Limited (WSMPL)). AZB was led by a team of