Greenko Solar, Neerg Energy to be most affected on discom’s non-payment of dues


Greenko Solar, Neerg Energy to be most affected on discom’s non-payment of dues

Greenko Solar (Mauritius) and Neerg Energy are likely to be affected the most due to continued delay in payments by state-owned Andhra Pradesh electricity distribution company (discom), among the group of renewable companies rated by Fitch Ratings.

Greenko Solar (Mauritius) (US Dollar notes rated BB-) and Neerg Energy (US Dollar notes rated B+) are likely to be affected the most as per the test conducted by Fitch to measure the liquidity strength of its rated renewable companies on the basis of adjusted cash flows from operations (CFOs) against net expenses.

“The cash flow from operations considers zero collections from Andhra Pradesh in the financial year ending March 2020 (FY20). We stress the CFO further by assuming additional delays in payments Read More

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