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

Constructive Automation

On most construction sites, the rhythm of progress is measured by the clang of steel, the hum of machinery and the sweat of thousands. But increasingly, new sounds are entering the mix: the quiet efficiency of algorithms, the hum of drones overhead, and the precision of robotic arms at work. Behind the concrete and cables, an invisible force is taking hold: data. It is turning blueprints into living simulations, managing fleets of machines, and helping engineers make decisions before a single brick is laid. This is not the construction of tomorrow; it is the architecture of today – built on ..

Next Story
Real Estate

Google India’s New Campus

India continues to cement its position as a global digital powerhouse – and Google’s latest milestone reinforces this trajectory with the inauguration of Ananta, one of its largest offices worldwide. CW explores the design, sustainability and construction aspects of this landmark campus in Bengaluru.Significance of AnantaLocated in Mahadevapura, Bengaluru, Ananta spans 1.6 million sq ft and is situated within Bagmane Tech Park. Named after the Sanskrit word for ‘infinite’, this state-of-the-art, 11-storey facility is Google’s fourth office in Bengaluru. It is designed to foster colla..

Next Story
Infrastructure Urban

Indian Delegation Visits South Africa for Trade and Investment Talks

A nine-member Indian delegation participated in the second session of the India-South Africa Joint Working Group on Trade and Investment (JWGTI) held in Pretoria from 22 to 23 April 2025. Discussions were conducted in a cordial atmosphere, focusing on expanding trade ties, boosting investments, and fostering greater people-to-people exchanges. The meeting was co-chaired by Malose Letsoalo, Chief Director, Bilateral Trade Relations, Department of Trade, Industry and Competition of South Africa, and Priya Nair, Economic Adviser, Department of Commerce, India. Delegates from the High Commission ..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?