According to the Fitch Rating, wind and solar power generation in India experienced an increase in FY24. Their objective is to achieve the renewable energy target.
Clean power producers were paid faster by distribution companies in FY24 compared to the previous year, which improved their cash flow, according to the reports.
Some of the restricted groups were rated under the agency’s renewable energy projects criteria with 110 wind and solar assets and a total capacity being 6198 MW.
Wind power generation rose by 8% in the year FY24. This was 1% less than expected but better than FY23. Solar generation had a growth of 2% in FY24 due to new assets becoming working which was 1% more than estimated for FY23.
In FY24, the time it took to get payments for power sales is developing and taking around 100 days from about 140 days in the previous year. CCollections also take a boost for both wind and solar energy from most state distribution companies.
Most commercial and industrial customers have been paying on time in recent years. The only state that delayed payments is Rajasthan which delayed payments but still did within 60 days.
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