The Ministry of New and renewable Energy (MNRE) granted extension of time to solar power projects in tranche-I, tranche–II and tranche-III of CPSU scheme Phase-II, scheme implemented by The Indian Renewable Energy Development Agency Limited (IREDA) until 30 September 2024.
The ministry stated that it had received representations to extend the timelines for three tranches of CPSU Phase-II projects mainly due to disruptions in the supply chain in the solar sector.
The issue was also examined by IREDA and it was determined that IREDA could extend the scheduled commissioning dates to 30 September 2024 for such solar project under tranches-I, tranches-II and tranche-III of CPSU scheme Phase-II. Those whose commissioning date is prior to 30 September 2024 may be eligible for such a time extension.
The CPSU Scheme Phase-II is aimed at setting up 12,000 MW Photovoltaic solar grid power projects under the government producers with Validity Gap Funding (VGF) support for self-use or use by government entities directly or through distribution companies (DISCOM).
IREDA has been appointed as implementing agency to handle CPSU Scheme Phase-II to conduct the bidding for allocation of Solar power project capacity under the Scheme with VGF amount as a bid parameter to select the project proponents. The maximum permissible VGF amount will be reviewed time to time by MNRE.
View the official document here:
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