India : SECI Disburses $12.5 Million for Purchase of Solar and Wind Power in May 2020

Solar Energy Corporation of India Limited (SECI) disbursed a total of $17.3 million (~₹1.3 billion) to solar and wind developers in May 2020. According to a statement released by SECI, it released $12.5 million (~₹937 million) for the purchase of solar and wind power and reimbursed $1.38 million (~₹104 million) for the Goods and Services Tax (GST) claims made by solar power developers. The beneficiary companies under the GST claims were Adani, Avaada, Tata Power, Phelan Energy, Azure Power, and ACME Solar.

Payment delays have been a cause of apprehension for solar developers in the country.  The delay in GST reimbursement and lack of clarity is affecting solar project developers in India.

Besides this, SECI also settled $1.82 million (~₹136 million) under rooftop solar subsidy program to three recipients – Hero Future Energies, CleanMax Solar, and Silver Star Solar.

Source : https://mercomindia.com/seci-solar-wind-may-2020/

Smart Grid Bulletin May 2020


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