DSCR (Debt Service Coverage Ratio)
Cash available for debt service divided by the debt service due in the same period — the ratio a lender uses to decide whether a solar project is bankable.
What lenders look for
Indian solar lenders typically want a minimum DSCR of 1.2-1.35 against P90 generation, not P50. If the model only holds at P50, it is not financeable, and the gap usually comes from an optimistic yield assumption rather than from the tariff.
P50 and P90
P50 is the generation that will be exceeded half the time; P90 the level exceeded in nine years out of ten. Lenders size debt on P90 precisely because it strips out the optimism — and so should your own board case.
Related terms
Where this applies
Utility-Scale Solar EPC
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