ScoutQuest6 Oct 2026
Juniper Green Energy544853Credit rating upgrade

ICRA upgrades Nisagra Renewable Energy to AA-/Stable; India Ratings upgrades Juniper Green Cosmic to IND A-/Stable

[ICRA]AA-Upgraded · ICRA; India Ratings and Research
Previously[ICRA]A+Now[ICRA]AA-
Upgraded by ICRA; India Ratings and Research · [ICRA]A+ to [ICRA]AA- · outlook Stable.
ICRA Rating Upgrade
[ICRA]AA-/Stable from [ICRA]A+/Stable on Rs. 210.52 crore term loans
India Ratings Upgrade
IND A-/Stable from IND BBB+/Stable on Rs. 416.40 crore bank facilities
Rating Drivers
parent JGEL's Rs. 1,800 crore IPO, implicit parent support, DSRA creation
Agency
ICRA; India Ratings and Research
Action
Upgraded

ICRA upgrades Nisagra Renewable Energy to AA-/Stable; India Ratings upgrades Juniper Green Cosmic to IND A-/Stable.

Previous rating date
Previous rating date
Cash and bank balance date
Rating action date
Previous rating date 12 Jul 2024 · Previous rating date 18 Jul 2025 · Cash and bank balance date 31 Aug 2026 · Rating action date 6 Oct 2026

Also from Juniper Green Energy

15.5 MW wind capacity commissioned; project capacity now 368.95 MWp of 550.6 MWp planned

1 Oct 2026

Ind-Ra assigns IND AA/Stable on Rs.417 crore Sigma bank loans; ICRA assigns [ICRA]A+ (Stable) on Rs.472.16 crore Spark Ten term loan

29 Sep 2026

ICRA upgrades five Juniper Green subsidiaries; Gamma One to [ICRA]AA- (Stable) on Rs.315.75 crore term loan

26 Sep 2026

More numbers
  • Nisagra Renewable rated amount (ICRA)210.52 (Rs. crore)
  • Juniper Green Cosmic rated amount (India Ratings)416.40 (Rs. crore)
  • Nisagra previous rated amount (ICRA)223.13 (Rs. crore)
  • Juniper Green Cosmic size of issue (India Ratings)4,164 (INR million)
  • JGEL equity raise via IPORs. 1,800 crore
  • NREPL project costRs. 367.3 crore
  • NREPL PPA tariff with MSEDCLRs. 3.15 per unit
Source: BSE · 6 Oct 2026

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