PV projects have outperformed their initial output expectations while wind farms fell short, according to global output analysis by financial ratings group Fitch.

Fitch said the “more predictable nature of solar power” is now being reflected in its ratings as it assesses the financial criteria projects need to satisfy to achieve investment-grade status.

Fitch – one of the world’s ‘big-three’ ratings agencies – analysed production data for rated wind farms from EMEA, Latin America and the US, and PV plants in EMEA and the US, stretching back to 2010, but excluding projects’ ramp-up phase.