+
SECI pays Rs 491 cr to solar, wind developers for power purchase in April
POWER & RENEWABLE ENERGY

SECI pays Rs 491 cr to solar, wind developers for power purchase in April

According to the statistics supplied by the nodal agency, the government-run Solar Energy Corporation of India (SECI) paid roughly Rs 491 crore in April to solar and wind companies for the power it purchased.

These payments accounted for 90.4% of the agency's total disbursements for the month.

The nodal agency spent Rs 543 crore in the month on solar and wind power purchases, subsidies, developer reimbursements, and duty and tax refunds, among other things.

The SECI payments have come as a relief to renewable developers who have been struggling with unpaid dues from distribution companies (discom). At the end of April, the discom owed renewable energy generators Rs 11,334 crore in overdue payments (excluding disputed amounts) across 200 pending invoices.

The nodal agency paid solar and wind generators around Rs 433 crore for the power they provided in March.

The developers who received the most payouts in April included -- SB Energy One, Wardha Solar, and Clean Solar.

In April, a total of Rs 141 crore was made available for viability gap funding (VGF). Subsidies for the rooftop programme totalled around Rs 3.7 crore from the agency.

Sukhbir Agro, Clean Max Enviro Energy, and Wattplus Energy were the primary recipients of SECI subsidies in the rooftop solar segment.

SECI also released Rs 3.2 crore in transmission charges payments. The only two recipients of funds in February were Gujarat Energy Transmission Corporation Limited and Rajasthan Rajya Vidyut Prasaran Nigam Limited.

The Ministry of New and Renewable Energy was fully refunded Rs 22.5 crore as part of the central financial assistance programme for the central public sector undertaking programme.

The goods and services tax (GST) and safeguard duty claims for the annuity method were refunded to solar power developers in the amount of Rs 5.3 crore. There are numerous safeguard duties and GST claims that have yet to be paid.

The Central Electricity Regulatory Commission (CERC) recently ordered SECI to compensate SB Energy One, a solar developer, for the cost increases incurred as a result of the imposition of GST and safeguard duty.

CERC had previously requested that SECI compensate SBG Cleantech Projecto Five for increased costs incurred as a result of the imposition of safeguard duty under the change in law clause.

Image Source


Also read: Renewable energy certificate mechanism to be restructured

Also read: Renewable energy capacity surged over 250% in 6-7 years: Narendra Modi

According to the statistics supplied by the nodal agency, the government-run Solar Energy Corporation of India (SECI) paid roughly Rs 491 crore in April to solar and wind companies for the power it purchased. These payments accounted for 90.4% of the agency's total disbursements for the month. The nodal agency spent Rs 543 crore in the month on solar and wind power purchases, subsidies, developer reimbursements, and duty and tax refunds, among other things. The SECI payments have come as a relief to renewable developers who have been struggling with unpaid dues from distribution companies (discom). At the end of April, the discom owed renewable energy generators Rs 11,334 crore in overdue payments (excluding disputed amounts) across 200 pending invoices. The nodal agency paid solar and wind generators around Rs 433 crore for the power they provided in March. The developers who received the most payouts in April included -- SB Energy One, Wardha Solar, and Clean Solar. In April, a total of Rs 141 crore was made available for viability gap funding (VGF). Subsidies for the rooftop programme totalled around Rs 3.7 crore from the agency. Sukhbir Agro, Clean Max Enviro Energy, and Wattplus Energy were the primary recipients of SECI subsidies in the rooftop solar segment. SECI also released Rs 3.2 crore in transmission charges payments. The only two recipients of funds in February were Gujarat Energy Transmission Corporation Limited and Rajasthan Rajya Vidyut Prasaran Nigam Limited. The Ministry of New and Renewable Energy was fully refunded Rs 22.5 crore as part of the central financial assistance programme for the central public sector undertaking programme. The goods and services tax (GST) and safeguard duty claims for the annuity method were refunded to solar power developers in the amount of Rs 5.3 crore. There are numerous safeguard duties and GST claims that have yet to be paid. The Central Electricity Regulatory Commission (CERC) recently ordered SECI to compensate SB Energy One, a solar developer, for the cost increases incurred as a result of the imposition of GST and safeguard duty. CERC had previously requested that SECI compensate SBG Cleantech Projecto Five for increased costs incurred as a result of the imposition of safeguard duty under the change in law clause. Image Source Also read: Renewable energy certificate mechanism to be restructured Also read: Renewable energy capacity surged over 250% in 6-7 years: Narendra Modi

Next Story
Infrastructure Urban

ITCONS Gains on New Rs 3.5 Million Defence Contract

ITCONS E-Solutions is trading at Rs 549.00, up by Rs 12.10 or 2.25 per cent from its previous close of Rs 536.90 on the BSE. The scrip opened at Rs 549.00 and has touched an intraday high and low of Rs 549.00, with 200 shares traded so far.A BSE ‘MT’ group stock with a face value of Rs 10, ITCONS touched its 52-week high of Rs 767.00 on 25 September 2024 and a 52-week low of Rs 166.70 on 5 August 2024. Over the past week, the stock has fluctuated between Rs 560.00 and Rs 510.60. The company's current market capitalisation stands at Rs 3.3 billion.Promoters hold 58.22 per cent of the compan..

Next Story
Infrastructure Urban

Delhi Extends EV Policy Till March 2026

The Delhi government has extended its existing Electric Vehicle (EV) Policy until 31 March 2026, or until a revised version is approved. The decision was made during a Cabinet meeting chaired by Chief Minister Rekha Gupta on Tuesday.According to Transport Minister Pankaj Kumar Singh, the draft of the new policy will undergo broader public consultation before being finalised, prompting the extension to allow time for thorough stakeholder engagement.The consultation process will include inputs from citizens, environmental groups, academic institutions, industry experts, and private firms. Key fo..

Next Story
Infrastructure Urban

Ather Crosses 400 Fast Chargers in Maharashtra

Electric two-wheeler manufacturer Ather Energy announced on Thursday that it has surpassed 400 fast charging points under its Ather Grid network across Maharashtra.The company's fast charging infrastructure now spans 35 cities in the state, including key urban centres such as Mumbai, Nashik, Pune, and Nagpur."Crossing 400 fast chargers in the state is about giving riders the assurance that they'll always find a charger when they need one. As we expand our retail presence, the charging network will continue to grow in tandem to make EV ownership truly seamless," said Ravneet Singh Phokela, Chie..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?