SINGAPORE: 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.
As a result, rated renewable energy companies' EBITDA declined 2%-5.6% in fiscal 2020. (IANS)
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