RENEWABLE ENERGY

Over 90% of India’s green energy projects got investment-grade ratings in 2020: Study

Over 90% of India’s green energy projects got investment-grade ratings of BBB and above in 2020, according to a study by CEEW Centre for Energy Finance (CEEW-CEF).

“This is due to the significantly improved financial viability of India’s renewable energy projects over the last decade on account of favourable policy support from the central government. As recently as 2015, less than 50 per cent of the projects in the sector enjoyed such favourable ratings from credit rating agencies on their debt issuances,” CEEW-CEF said in a statement.

This comes in the backdrop of India’s non-fossil fuel-based capacity meeting the 40% target under its nationally determined contribution (NDC) at COP 21.

“The CEEW-CEF study, supported by Shakti Sustainable Energy Foundation, also highlighted that out of the 90 renewable energy projects evaluated by three credit rating agencies in 2020 and considered in the report, only 6 wind energy projects had below-investment-grade ratings,” the statement added.

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