ICRA downgrades rating outlook for one third of its wind, solar portfolio

In addition to a slower tendering activity, the sector also faces concerns over delayed payments

Rating agency ICRA has downgraded the rating outlook for nearly one-third of the wind, solar power rated portfolio, the agency said in a statement on Wednesday.

The downgraded rating accounts for 20 per cent of the rated wind and solar portfolio, which is at 1.9 gig watt (GW). Rating outlook for another 10 per cent of such capacity has also been revised.

“Given 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 a few state distribution utilities (discoms), ICRA