₹2-3 per unit, they said it was not expensive anymore. Then there was a problem of intermittency. Then, the projects now are doing wind, solar, battery storage, and hybrid altogether to do maybe a peak power project, or an RTC project, or what I would like to call a high CUF (capacity utilization factor) project.
Further, moving on, the world is witnessing the hottest summer ever. The reality is the world is burning, and climate change is a reality, and net zero transition is not going to happen without tonnes of renewable energy. We continue to hold the majority stake.
We continue to control the company. We will have to keep finding new ways of finding capital. The industry is such that our oxygen is capital.
And at one time, $100 million was a lot, and today half a billion is not enough. We’ve just closed a deal with KKR. So that money will last us for some time, about two-three years.
So, within two-three years, we have to come back to the market. The bond market is very, very bad. It’s been so in the last decade or so.
It’s too early to say how we will raise funds because we still have two years till we need the money. So, we still have a year and a half before we go to the market. You know, it typically takes six to nine months to close a deal.
That could be an option. Not in this bull run. Let me put it this way, not in this one.
So, it’s good. There’s going to be a correction, and then when it (the bull run) comes back, hopefully, we should be ready by then. Despite the growth in the solar power segment, we have seen issues like module prices and increasing tariffs.
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