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Aviral Jain, Managing Director in the Valuation Advisory Services practice at Duff & Phelps, was featured in Mint, a leading business daily, on India’s renewable energy investments and returns in the sector.
He commented that with expectations typically in the range of 15-16% per year, there is a mismatch between the IRR (project internal rate of return) and equity return expectations. But if companies place operating assets in a special purpose vehicle, they can find takers from yield and fixed return-oriented investors, such as pension funds. Even then, policy clarity and stability remain a challenge. Policy and regulatory changes upset the project calculations. Otherwise, the renewable energy sector's growth will fall short of targets.
Read the full article in Mint.