Solar’s IPO Rush: How Sustainable is it? | Saur Energy International Magazine Oct 2024

solar magazine October 2024

When people look back on the evolution of solar manufacturing in India, 2024 will be looked upon as a milestone year. For while much has happened in the previous two years to bring us to this turn, there is no doubt that 2024 will stand out for the way the capital markets welcomed solar firms. From the smallest firms that listed on the SME exchanges, to the industry’s biggest like Waaree Energies or Premier Energies, the stock market has provided the kind of access to capital and visibility that these firms could only dream off just a few years back.

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However, a public listing comes with many responsibilities and compliance requirements, which will go a long way in making the solar sector and more broadly, the renewable sector a much more better understood part of the economy. That will certainly help other parts of the sector raise other types of funds, as a sea change is needed in equity, debt, and concessional financing as well. It was about time, considering the key role India’s energy transition will play in growth as well as meeting our basic global obligations to fight climate change as well. Our cover feature tries to provide you a primer on the new scenario, with a slant towards investor expectations and the risk to those in the future. We hope it will help you invest wisely. We must, however, remember that access to capital markets does not solve the challenge of green financing by any stretch, and that remains an issue which needs a lot more work. Here’s hoping the public markets will mark a critical starting point.

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