+
CERC Rejects ReNew Surya Vihaan’s Plea for Bank Guarantee Refund
ECONOMY & POLICY

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

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)

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)

Next Story
Real Estate

Manglam, Fern Hotels Sign 200+ Key Apart’otel in Jaipur’s Pinkwalk

Manglam Group has signed a 200+ key serviced apart’otel under the Fern Habitat brand in Jaipur, marking a key milestone in its Rs 10 billion hospitality investment strategy. Located within Pinkwalk, Manglam’s flagship mixed-use development in Jagatpura, the project will cater to both short and extended-stay travellers with apartment-style units paired with hotel services. The Fern Habitat Pinkwalk will offer fully serviced accommodations with kitchenettes, daily housekeeping, and on-site dining. The concept blends the independence of apartment living with the comfort of hotel-grade am..

Next Story
Real Estate

Schon Doorways Launches Monsoon-Ready Aluminium Casement Windows

Schon Doorways, a premium player in doors and window solutions, has launched its new range of aluminium casement and sliding windows, designed specifically to endure the Indian monsoon. Engineered with high-performance tempered glass and ultra-slim aluminium profiles, the windows combine aesthetic appeal with monsoon resilience. Available in single and double track options, the windows offer anti-collision strips, flyscreens, and high load-bearing strength—providing protection against heavy rains, strong winds, and pests. Wall thickness ranges from 1.6 mm to 5.00 mm, offering flexibilit..

Next Story
Resources

LG Charts Global HVAC Leadership With AI, Acquisitions and Localisation

LG Electronics has unveiled a strategic roadmap to transform its ES Company into a top-tier global HVAC solutions provider by 2030, targeting KRW 20 trillion in revenue. The plan, announced at LG Sciencepark, South Korea, focuses on expanding B2B industrial sales, advancing AI-based technologies for data centres, and strengthening localised operations across key regions. Central to LG’s roadmap is growth in the fast-expanding data centre cooling segment. With the global chiller market projected to reach USD 12 billion by 2027, LG aims for KRW 1 trillion in sales by 2027. The company has..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?