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
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?