­Kodad based­, Sri Suryanarayana Swamy Solar Power Private Limited was incorporated in 2012. It is engaged in the production and distribution of solar power with a capacity of 2 MW. The project site is in a village at Nalgonda. The company has 20 acres of land out of which 10 acres have been deployed towards this project. The company has entered into two power purchase agreements. In March 2014, the company entered into a 7 years PPA with M/s Vedadri Paper Mills (India) Private Limited. While in September 2015, the company entered into a 5 years power purchase agreements with GVK Properties & Management Co. Private Limited, at a rate of Rs.5.95 per unit with an escalation of 2.5 per cent per annum allowed during the next 5 years. Mr. Mellacheruvu Kamal, Mr. Satyanarayana Swamy Chinni, Mr. Prabhakar Gajji, Mr. Venkateswara Swamy Chinni, Mr. Venkateswara Tellakula Rao, Mr. Kottamaddi Reddy Srinivasa and Mr. Kottamaddi Reddy Srinivasa are directors of the company.

­Not Applicable

­Acuité has been requesting for data, information and undertakings from the rated entity for conducting surveillance & review of the rating. However, the issuer/borrower failed to submit such information before the due date.
Acuité believes that information risk is a critical component in such ratings, and non-cooperation by the issuer along with unwillingness to provide information could be a sign of potential deterioration in its overall credit quality.
This rating is, therefore, being flagged as “Issuer not-cooperating”, in line with prevailing SEBI regulations and Acuité’s policies.

­The rating is based on information available from sources other than the issuer/borrower (in the absence of information provided by the issuer/borrower). Acuité endeavored to gather information about the entity/industry from the public domain. Therefore, Acuité cautions lenders and investors regarding the use of such information, on which the indicative credit ratingis based.

­"No information provided by the issuer / available for Acuite to comment upon."

­"No information provided by the issuer / available for Acuite to comment upon."

­Not Applicable

­None

­Not Applicable

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­In order to inform the investors about complexity of instruments, Acuité has categorized such instruments in three levels: Simple, Complex and Highly Complex. Acuite’ s categorisation of the instruments across the three categories is based on factors like variability of the returns to the investors, uncertainty in cash flow patterns, number of counterparties and general understanding of the instrument by the market. It has to be understood that complexity is different from credit risk and even an instrument categorized as 'Simple' can carry high levels of risk. For more details, please refer Rating Criteria “Complexity Level Of Financial Instruments” on www.acuite.in.