He said only 11% of capacity exceeded their respective estimates, up from 34% and 48% in FY20 and FY19, respectively.
According to the official press release, the production underperformance of some of the wind companies can also be attributed to grid outages seen in a few states and problems operating projects with some manufacturers.
He added, however, that the performance of the majority of wind companies monitored by ICRA improved in the first half (H1) of FY22 year-on-year, which should lead to improved load on wind facilities. factor (PLF) in FY22 on FY21.
“The risk of PLF variability is relatively lower for solar power projects compared to wind power projects in recent years … In the context of grid reductions, the recent ‘must run’ status rules for wind and solar power plants and an order issued against the grid cutbacks in Tamil Nadu remain positive for the sector, ”said Girishkumar Kadam, senior vice president and group co-head – corporate ratings, ICRA.
The performance of the ICRA-monitored solar portfolio of 3.3 GW has been stable with around 52% of the sample capacity performing better than the estimated PLF in FY21, which is like both years. previous ones.