The rating was awarded by the Credit Rating Information Services of India Limited (CRISIL), a division of the McGraw Hill Corporation and whose majority stakeholder is Standard & Poor’s. The “CRISIL A-/Stable” rating was given on long-term loan facilities.
The A- rating reflects the strong revenue visibility of Astonfield’s 5 MW solar power plant, driven by its 25 year power purchase agreement with NTPC Vidyut Vyapar Nigam Ltd. with “better realisation per unit and sound operational performance.” The plant has been in operation since 2011.
About Astonfield Renewable Resources
Astonfield Renewable Resources Ltd. is a leading provider of affordable renewable energy in emerging markets. Astonfield develops, owns, and operates a rapidly growing portfolio of utility-scale solar plants. Through strategic partnerships with global technology and finance leaders, Astonfield deploys the world’s most advanced, proven renewable energy solutions to power communities in India, Africa, and the Middle East. For more information visit following links;
Image credit: JUWI Group, available on Wikipedia
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