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Fitch said on Tuesday that India's electricity demand is expected to decline by 4%
in the fiscal year ending March 2021, despite a gradual pickup in economic activity since the easing of pandemic-related lockdowns in June.
Fitch said weak demand and rising coal inventories led to a 22% year-on-year decline in India's coal imports in 1H20.
"We expect the credit profile of state-owned power distribution companies to deteriorate further due to
a slowing economy and weak demand from industrial customers.
The central government's recent liquidity of 9,000 crore to distribution companies should help them pay off huge arrears
to power generation and transmission companies.
”
Fitch also expects pandemic-related supply chain and labor disruptions to lead to a slowdown
in renewable energy capacity additions in 2020.
"Hybrid projects (a combination of renewables and storage facilities) are gaining traction in India to address the intermittency of renewables and simplify integration with the grid, and solar will continue to lead capacity increases
," the rating agency said.
”
Fitch said on Tuesday that India's electricity demand is expected to decline by 4%
in the fiscal year ending March 2021, despite a gradual pickup in economic activity since the easing of pandemic-related lockdowns in June.
Fitch said weak demand and rising coal inventories led to a 22% year-on-year decline in India's coal imports in 1H20.
"We expect the credit profile of state-owned power distribution companies to deteriorate further due to
a slowing economy and weak demand from industrial customers.
The central government's recent liquidity of 9,000 crore to distribution companies should help them pay off huge arrears
to power generation and transmission companies.
”
Fitch also expects pandemic-related supply chain and labor disruptions to lead to a slowdown
in renewable energy capacity additions in 2020.
"Hybrid projects (a combination of renewables and storage facilities) are gaining traction in India to address the intermittency of renewables and simplify integration with the grid, and solar will continue to lead capacity increases
," the rating agency said.
”
