SECI pays Rs 4.33 bn to wind, solar developers for power purchase

Solar Energy Corporation of India (SECI) under the Ministry of New and Renewable Energy (MNRE) has paid around Rs 4.33 billion to solar and wind developers for the power purchase in March 2021, according to the nodal agency data. These expenditures were estimated at 70.5% of the total amount expended by the agency during the month. SECI spent around Rs 6.13 billion in March to procure solar and wind power, subsidies, reimbursements to developers, duties, and tax reimbursements, between other charges. The company had paid about Rs 4.08 billion to solar and wind generators in February. The expenses amounted to almost 90% of its disbursements through the month. Wardha Solar in Maharashtra, Clean Solar in Bhadla, and SB Energy were receiving the most payouts for power purchases in February 2021. Under the viability gap funding program, SECI paid Rs 393 million in terms of subsidies. Under the rooftop solar program in March 2021, the nodal agency expended nearly Rs 201 million as subsidies. Solar Quest Energy, ReNew Solar Energy, and Bosch Ltd were the topmost beneficiaries under the rooftop segment of subsidies. At the end of March 2021, Distribution Companies (discoms) indebted Rs 120.25 billion to renewable energy generators in overdue payments beyond 283 pending invoices. Image SourceAlso read: SECI extends bid deadline for 50 MW Tamil Nadu solar tender again Also read: Adani, ReNew, JSW, others invest Rs 1.67 lakh cr in Raj