SECI Payment to Wind and Solar Power Generators Decline by 7.19% in December Over November 2022

SECI (Solar Energy Corporation of India) is a government-owned company responsible for implementing the National Solar Mission and other renewable energy projects in India. In December 2022, SECI payments to wind and solar power generators declined by 7.19% compared to the previous month. However, compared to the same period last year, SECI payments have increased by 49%.

The decline in SECI payments to wind and solar power generators could be attributed to various factors. One possible reason could be a decrease in power demand during December, resulting in lower electricity prices. Another factor could be changed in government policies and regulations, impacting the pricing and procurement of renewable energy.

Despite the monthly decline in SECI payments, the year-over-year increase is a positive sign for the renewable energy sector in India. This growth indicates that the government’s efforts to promote renewable energy are paying off, with more wind and solar power generators coming online and contributing to the country’s power mix.

India had set a target of achieving 175 GW of renewable energy capacity by 2022, with 100 GW from solar, 60 GW from wind, 10 GW from bioenergy, and 5 GW from small hydro.

Payments totaling Rs 7.34 Billion were made to solar and wind power producers by SECI for the power it purchased in December 2022. The amount is 7.19% less than what was paid out in November 2022.

Disbursements were made in November, accounting for around 96% 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. 7.66 billion in December. SB Energy One, Azure Power Forty Three, Wardha Solar (Maharashtra), Adani Hybrid Energy, JBM Solar Energy, EDEN Renewable Cite, Renew Solar Urja, and Clean Solar (Bhadla) received the majority of the payments.

SECI’s payments have provided additional support to renewable generators who were already suffering from DISCOMs past payment delays.

For the month of December 2022, Rs 60.36 million was paid for transmission charges and Rs. 4.41 million for Open Access Charges.

SECI even paid Rs 25.41 million to contractors and service providers, in addition to the payment of Rs. 50.69 million for the refund of excess money received.

SECI payment to different Wind / Solar Generator increase by 49% compared to last year’s payment in the month of December 2021 which was Rs. 4.92 billion.