CERC Rejects ReNew Surya Vihaan’s Plea for Bank Guarantee Refund

20 Mar 2025 CW Team

The Central Electricity Regulatory Commission (CERC) has dismissed a petition by ReNew Surya Vihaan (RSVPL) seeking a refund of its Rs 50 million Construction Bank Guarantee (CBG) for a 100 MW solar project in Rajasthan. The Commission ruled that RSVPL had voluntarily transitioned from the Connectivity Regulations, 2009, to the General Network Access (GNA) Regulations, 2022, and was therefore bound by the new framework.

RSVPL argued that its financial obligations under the new regulations were disproportionately higher than those of fresh applicants, who are required to submit significantly lower guarantees. The company sought a refund of its original CBG and permission to furnish bank guarantees under the 2022 framework. However, the Central Transmission Utility of India (CTUIL) opposed the request, stating that transition provisions applied uniformly and that RSVPL had willingly accepted the new terms.

CERC ruled that RSVPL’s comparison with new applicants was flawed, as fresh applicants could also be required to provide additional guarantees. It also found no exceptional regulatory difficulty warranting relief under Regulation 42 of the GNA Regulations, 2022. Consequently, RSVPL’s plea to recover its Rs 50 million CBG was rejected, affirming the regulatory clarity of the transition provisions.

(MERCOM)

Real Estate

14 Oct 2025

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