Renew Power subsidiary Renew Solar Services Private Limited a category ‘IV’ licences inter state electricity trader from 2017, applied to commission for exit from energy trading business. The applicant want to surrender the energy trading licence as per newly notified Central Electricity Regulatory Commission (Procedure, Terms and Conditions for grant of trading licence and other related matters) Regulations, 2020.
Renew Power has declared that they have paid licence fee for the financial year 2021-22 and also dont have any un-discharged liability or any pending claim raised by any party. Renew Power is not active in inter-state energy trading from Jan,2021.
For verification commission asked IEX, PXIL, NLDC & RLDC to submit confirmation of any pending claim from Renew Solar Services Private Limited. In response IEX declared Renew Power is not their client and PXIL, NLDC & RLDC did not reply.
Commission’s Analysis :
In view of the above facts, commission direct to revoke trading licence granted to Renew Solar Services Pvt Ltd from the date of insurance of the order.