Industries
5,000 MW assessed across solar, wind, hybrid and battery storage. 15 SPVs, 5 sponsor groups.
Sector overview
The renewable practice covers utility-scale solar, wind, wind-solar hybrid and battery energy storage, as well as rooftop and captive portfolios financed through special-purpose vehicles. The largest single assignment is the techno-economic viability study for Serentica Renewables (KKR and Vedanta Group) across two sites: 152 MW of wind, 500 MW of solar and 600 MW of battery storage, with a project cost above ₹4,600 crore.
Earlier work includes Lenders’ Independent Engineer reports for 10 MW solar plants at Lakadiya and Shivlakha in Kutch, TEV studies for 25 MW biomass plants at Ahmednagar and Lonand, and monitoring for Hinduja Renewables and Fourth Partner Energy. Energy-yield assumptions are tested against independent resource data, and storage economics are modelled on degradation and augmentation schedules rather than nameplate capacity.
Industry challenges
Bank cases built on P50 yields fail when P90 arrives. We reconcile the sponsor’s resource assessment with independent irradiation and wind data, plant-availability records and comparable operating assets before accepting a generation figure.
A plant that is commissioned before its evacuation bay or transmission line loses months of revenue. We verify connectivity approvals, bay allocation and line-construction status against the disbursement schedule.
Battery capacity fades, warranties are conditional and augmentation is a real cash cost within the loan tenor. We model degradation, round-trip efficiency and replacement capex explicitly in the debt-service case.
Round-the-clock and peak-power tariffs shift risk from the offtaker to the generator. We test the supply profile the contract demands against what the hybrid plant and storage can deliver, including penalty exposure.
Our solutions
Viability studies covering resource, technology, EPC contract, grid connectivity and tariff structure, with sensitivities on yield, curtailment and storage degradation.
Learn moreConstruction monitoring, milestone and drawdown certification, and commissioning verification for single projects and multi-SPV portfolios.
Learn moreValuation of operating SPVs and portfolios for refinancing, sale, security review and fair-value reporting.
Learn moreTrack record
| Client | Scope | Service | Value |
|---|---|---|---|
| Serentica Renewables India (KKR and Vedanta Group) | 152 MW wind, 500 MW solar, 600 MW battery storage across two locations | TEV study | ₹4,600+ Cr |
| Gupta Energy Private Limited | Solar power project under corporate insolvency | IBC valuation | ₹174 Cr (book value) |
| Hinduja Renewables and Hinduja Rooftop | Rooftop and ground-mounted solar portfolios | TEV and Lenders’ Independent Engineer | |
| Fourth Partner Energy Limited | Distributed solar assets | TEV report | |
| Solar plants at Lakadiya and Shivlakha, Kutch | 10 MW each | Lenders’ Independent Engineer | |
| Biomass power projects, Ahmednagar and Lonand | 25 MW each | TEV report |
In numbers
Capacity in MW covered by the two-site techno-economic viability study.
Case study
Renewable Energy
Techno-Economic Viability study across two locations covering 152 MW wind, 500 MW solar and 600 MW of battery energy storage.
TEV StudyInfrastructure
Project Monitoring Agency across ten concurrent national mandates including the Nagpur–Mumbai Expressway, Delhi–Meerut RRTS, the Rohtang Pass tunnel and the Mumbai–Pune Missing Link.
Project MonitoringConstruction
Project Monitoring Agency across ten construction projects including CIDCO Navi Mumbai, MHADA and the Karwar Naval Base.
Project Monitoring
