+
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
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?