Reportedly, the Ministry of New and Renewable Energy (MNRE) has instructed NTPC and Solar Energy Corporation of India (SECI) to release performance bank guarantees (PBGs) for all the commissioned wind and solar power projects. The PBGs can be released in the span of 45 days from the commercial operation date (COD), on the condition that all required submission of necessary documents is fulfilled.
In a bid to boost Prime Minister Narendra Modi’s enterprising goal of achieving up to 175 GW of energy – relying solely on renewable sources – the government has yet again floated a renewable energy storage tender. A major chunk of the goal, amounting to 100 GW is dedicated to solar power.
The Ministry of New and Renewable Energy (MNRE) has reportedly made a decision, to request the Reserve Bank of India (RBI) to categorise renewable energy into a separate segment from power, and remove the priority sector lending limit for the sector to ensure higher financing.