Girish Madan, Director, Fitch Ratings, says it would be a combination of both thermal and renewable generation sides. In renewables, wWe have seen some pressure on the earnings because tariffs were coming down as competitive intensity was increasing in the sector, but of late the profitability should increase because some of the variables have turned in favour of the Gencos. Some of the commodity prices have also come down. Plus, there has been a 20-30% correction in solar module prices. All…
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