Energy Generation

Owns and operates wind and increasingly wind-solar hybrid generation assets, selling power under long-term PPAs.

Hybrid projects pairing wind's night/monsoon-season output with solar's daytime output deliver steadier, more grid-friendly power than either alone - a growing share of new renewable capacity.

Same annuity-like PPA revenue profile as solar IPPs, with hybrid projects commanding a premium for their steadier output profile.

• Wind-solar hybrid tender volumes
• Repowering of older low-capacity wind sites with modern turbines
• Round-the-clock (RTC) renewable power tenders favoring hybrid/storage-backed bids

• Wind resource is geographically concentrated in a handful of states
• Grid-connectivity and transmission capacity in wind-rich corridors
• Smaller-cap pure-play wind IPPs have thinner balance sheets than diversified majors

• Operating wind/hybrid capacity (MW)
• Capacity factor trend
• PPA tariff and counterparty mix