Clean Solar Power (Dhar) Pvt Ltd: Rating reaffirmed

The rating reaffirmation factors in Clean Wind Power (Dhar) Pvt Ltd’s (CSPD) satisfactory operational track record of more than five years for its 30-MW solar power plant in Madhya Pradesh and timely payment pattern from the offtaker, namely Solar Energy Corporation of India (SECI) with the receivable cycle being around two months as on June 2020. ICRA continues to favourably factor in the revenue visibility on account of the presence of a long-term power purchase agreement (PPA) at a tariff of Rs. 5.45 per unit with SECI.