Payments totaling Rs 7.91 Billion were made to solar and wind power producers by the Solar Energy Corporation of India (SECI) for the power it purchased in the month of November 2022. The amount is 1.6% less than what was paid out in October 2022.
According to SQ Research, disbursements were made in November, accounting for around 95% of the nodal agency’s total payments for the month.
The agency paid out duties, payments, and developer reimbursements for the procurement of solar and wind energy totaling Rs. 8.36 billion in November. Azure Power Forty-Three, Wardha Solar (Maharashtra), Adani Hybrid Energy, Renew Solar Urja, and EDEN Renewable Cite received the majority of the payments.
In addition, the agency funded the viability gap financial assistance program with Rs. 184.17 million in subsidies.
SECI also compensated the Ministry of New and Renewable Energy (MNRE) for the Refund under PM KUSUM Grants of Rs. 84,621.
SECI’s payments have provided additional support to renewable generators who were already suffering from DISCOMs past payment delays.
For the month of November 2022, Rs 28.14 million was paid for transmission charges and Rs. 14.73 million for Open Access Charges.
SECI even paid Rs 43.63 million to contractors and service providers, in addition to the payment of Rs. 54.89 million for the refund of excess money received.
SECI payment to different Wind / Solar Generator increase by 52% compared to last year’s payment in the month of October 2021 which was Rs. 5.21 billion.
