Punjab Commission Dismisses Solar Firm’s Compensation Plea

31 Jan 2025 CW Team

Petitioner SAEL Solar Solutions had entered into a power purchase agreement (PPA) with Punjab State Power Corporation (PSPCL) on June 21, 2022, to supply 50 MW of power at a tariff of Rs 2.65 or $0.031) per unit.

It filed a petition to get compensation on account of a ‘change in law’ because of an increase in CGST for solar cells from 5% to 12%. Per the PPA, a ‘change in law’ is deemed to have occurred when any event increases or decreases project costs. The change in law notice must be sent within 60 days from the date of occurrence. The petitioner also submitted that it was entitled to carrying costs because of rising capital expenditure, which increased debt and equity requirements.

PSPCL argued for SAEL’s plea to be dismissed. The petitioner issued the ‘change in law’ notice in November 2022, after 60 days from signing the PPA. The Commission observed that the central tax rate change, which was issued in September 2021, before the e-reverse auction process of the bidding conducted on October 22, 2021, cannot be considered a ‘change in law’ under the PPA.

It noted that the petitioner’s notice to PSPCL did not fulfill the 60 days from the ‘change in law’ event” time limit even from the PPA date. Additionally, it did not contain details of the ‘change in law’ and its effect on project costs. The notice also did not include supporting documentary evidence.

The Commission dismissed the petitioner’s request for a grant of carrying cost and interest on it. In September 2024, PSERC issued separate additional surcharge rates for full and partial open access power consumers. It approved a surcharge of Rs 1.29 or $0.015/kWh for both full and partial open access consumers, including those utilizing green energy, for using open access beyond the contract demand maintained with the distribution licensee.

Punjab State Electricity Regulatory Commission (PSERC) has rejected a solar power company’s plea seeking compensation to offset the financial and commercial impact of increasing central goods and services taxes (CGST) on solar cells. Petitioner SAEL Solar Solutions had entered into a power purchase agreement (PPA) with Punjab State Power Corporation (PSPCL) on June 21, 2022, to supply 50 MW of power at a tariff of Rs 2.65 or $0.031) per unit. It filed a petition to get compensation on account of a ‘change in law’ because of an increase in CGST for solar cells from 5% to 12%. Per the PPA, a ‘change in law’ is deemed to have occurred when any event increases or decreases project costs. The change in law notice must be sent within 60 days from the date of occurrence. The petitioner also submitted that it was entitled to carrying costs because of rising capital expenditure, which increased debt and equity requirements. PSPCL argued for SAEL’s plea to be dismissed. The petitioner issued the ‘change in law’ notice in November 2022, after 60 days from signing the PPA. The Commission observed that the central tax rate change, which was issued in September 2021, before the e-reverse auction process of the bidding conducted on October 22, 2021, cannot be considered a ‘change in law’ under the PPA. It noted that the petitioner’s notice to PSPCL did not fulfill the 60 days from the ‘change in law’ event” time limit even from the PPA date. Additionally, it did not contain details of the ‘change in law’ and its effect on project costs. The notice also did not include supporting documentary evidence. The Commission dismissed the petitioner’s request for a grant of carrying cost and interest on it. In September 2024, PSERC issued separate additional surcharge rates for full and partial open access power consumers. It approved a surcharge of Rs 1.29 or $0.015/kWh for both full and partial open access consumers, including those utilizing green energy, for using open access beyond the contract demand maintained with the distribution licensee.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Infrastructure Transport

30 May 2026

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Infrastructure Urban

30 May 2026

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..