Moody's maintains stable outlook for power sector

The fuel reserves had critically come down to nine days in the same period last year. Most rated power issuers in the country are under 'steady availability-based regulated return regimes and will not be affected by power demand slowdown', it pointed out. However, it flagged the deterioration in the financial health of state electricity boards as one of the factors which continues to pose a challenge to the sector's development. Moody's also noted that changes in sovereign outlook are adversely affecting Indian power utilities, such as NTPC, Power Grid Corporation, NHPC and Adani Renewable Energy. 'As the share of renewables grows, the key regulatory challenge in the long run will be to balance new renewable capacity with protecting existing coal-fired units,' it has said. The country is trying to achieve the national target of 175 GW of renewables capacity by 2022. Currently, there are around 85 GW of such generation units. Moody's Investors Service, last month, had cut its forecast for India's 2019 (calendar) GDP growth by 60 basis points to 5.6 per cent. FE DailyhuntDisclaimer: This story is auto-aggregated by a computer program and has not been created or edited by Dailyhunt. Publisher: The Indian Expresshttps://www.tripadvisor.com/Profile/michealseans