Minister advises developers to turn to court to secure clean energy monies owed by electric utilities
The financial failings of India’s electric companies have once again come to the fore as the power minister warned the seven worst offending states the lengthening debts they owe renewables developers could be recovered via the National Company Law Tribunal.
Manufacturing-linked mega tender set for more tweaks
Bidders interested in competing for a tender which will allocate 6 GW of solar capacity linked, pro rata, with 2 GW of manufacturing output now have until September 11 to register their bid as administrator the Solar Energy Corporation of India will amend the exercise to incorporate developer feedback.
EDEN Renewables seals power supply agreements for 716 MW of new solar capacity
The deals will pave the way for four new solar parks that are set to be commissioned towards the end of next year.
MNRE approves 12 GW solar scheme for public sector undertakings
Up to Rs7 lakh of funding assistance per megawatt will be available to developers who deploy PV capacity for consumption by public entities. The energy produced will be supplied with a Rs3.50/kWh ceiling tariff and projects will be subject to strict domestic content requirements.
Another 1.2 GW tender, with Madhya Pradesh as delivery point
Unlike the other, India-wide 1.2 GW tender, rolled out simultaneously, the delivery point for these projects should be chosen from designated inter-state transmission system substations in Madhya Pradesh.
Karnataka sets benchmark capital cost for solar
The reference capital cost for developing solar projects in Karnataka has risen this year despite continuing falls in component prices.
Adani Renewable bags 600 MW wind-solar hybrid project
The developer’s Gujarat business will supply power for Rs2.69 under a 25-year PPA after winning a tender conducted by the Solar Energy Corporation of India.
Dispute resolution committee established in response to developer demands
A new three-man panel will adjudicate in disputes between project developers, national solar body SECI and energy giant NTPC. The board has been established by the Ministry of New and Renewable Energy.
Government prepares new payment security mechanism for developers — four months after the last one
Solar Energy Corporation of India was given a Rs 500 crore cash pot to help developers in February, but that clearly wasn’t enough, as a second newly announced scheme underscores just how much financial distress the country’s state power companies are in.
Tamil Nadu discom halts renewable energy auctions
Tangedco’s reputation for late payments scared off developers in its latest two, failed tender exercises. The solution? Get government body SECI to hold the auctions, because everyone knows it pays on time!
