The Solar Energy Corporation of India (SECI) paid solar and wind power providers Rs 5.52 billion for power purchased in November 2021. The amount distributed amounted to 91% of the total amount paid by the nodal agency in November 2021.
SECI distributed Rs 6.06 billion in total for the month, which included solar and wind power purchases, developer reimbursement, duties, and other payments.
SECI’s monthly payment is a significant relief for renewable developers who are saddled by the unpredictability of distribution firms’ (DISCOMS’) dues payment schedules.
According to statistics supplied by the Ministry of Power, DISCOMS owed renewable energy generators Rs 194.52 billion in outstanding payments at the end of December 2021, excluding the disputed amount. The figure was 3% lower than the figure for November 2021, which was Rs 200.85 billion.
The nodal agency compensated solar power providers Rs 108.37 million using the annuity approach for Goods and Services Tax (GST) and Safeguard Duty claims.
SECI allocated Rs 1 million as a subsidy for the rooftop solar scheme and Rs 34.60 million for transmission costs.
The agency gave Rs 381.63 million as a subsidy under the viability gap funding program in the total amount of Rs 16.68 million to contractors and service providers. In addition, it paid Rs 1.63 million in Open Access fees.
For the power acquired in October 2021, the agency has granted Rs 5.21 billion to solar and wind power producers. In the same month, the distributed amount represented 96% of the entire amount paid by the noodle agency.
The Central Electricity Regulatory Commission (CERC) ingeminate SECI’s recommendation for a 10.41% discount rate on annuity payments for additional expenditures paid by solar power providers due to ‘Change in Law’ events in August 2021. The federal regulator mandated that solar power developers pay all statutory taxes, tariffs, levies, and cess on monthly annuity payments for power purchase agreements.
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