Green energy capex on a charged-up rebound, says CRISIL analysis

Credit profiles seen stable, given strong accruals and investor interest

Capacity addition in the renewable energy segment surged 145 per cent year-on-year in the first eight months of the current financial year (FY22) with 8.23 Gw added as of November. The solar segment led the additions with 7 Gw, way above the 5.4 Gw it added in the entire FY21.

The outlook for FY22 remains positive, with 11.5-12 Gw of solar energy and 2 Gw of wind energy expected to come online by March, involving an investment of Rs 53,000-55,000 crore.

In FY23, the solar and wind segments are expected to see capacity additions and investments of 17-18 Gw and Rs 76,000-78,000