SECI Released Over ₹4.5 Billion to Clear Dues of Solar and Wind Developers in September

The Solar Energy Corporation of India (SECI) paid out nearly ₹4.53 billion (~$61.6 million) for solar and wind power purchases in September 2020, according to the latest data.

This amounted to about 82% of its payments during the month. Wardha Solar (Maharashtra) Private Limited, Green Infra Wind Power, and Clean Solar (Bhadla) Private Limited were the highest paid in power dues.

The payments have slightly reduced in September when compared with the previous month. Mercom reported that SECI paid nearly ₹4.6 billion (~$62.4 million) to solar and wind developers in August 2020, which amounted to almost 84% of the total amount disbursed during the month.

The agency disbursed ₹70.8 million (~$966,632) in reimbursements to solar power developers. It reimbursed ₹27.1 million (~$369,996) towards Goods and Services Tax (GST) claims and about ₹22 million (~$300,366) towards Safeguard Duty claims, both as per the annuity method. The central agency reimbursed ₹21.6 million (~$294,905) towards GST claims to solar power developers.


Wardha Solar, Azure Power India Private Limited, Parampujya Solar Energy Private Limited, and Clean Sustainable Energy Private Limited were among the companies that received the largest refunds towards GST and safeguard duty claims.

In terms of subsidies, SECI released ₹639.6 million (~$8.7 million) under the venture gap funding (VGF) program and about ₹47.1 million (~$643,056) under the rooftop program.

Wardha Solar, Vena Energy Solar Ravi India Power Resources Private Limited, and Suryam International Private Limited received the most subsidies under these programs.

SECI also spent ₹31.4 million (~$428,704) towards transmission charges during the month to the distribution companies of Gujarat, Madhya Pradesh, and Rajasthan.

The agency’s data also showed that it had refunded interest on central financial assistance (CFA) to the tune of ₹78.4 million (~$1.07 million) to the Ministry of New and Renewable Energy. It also provided CFA worth ₹9.4 million (~$128,338) to the ministry. Under earnest money deposit refunds, SECI disbursed ₹53,547 (~$731), as per the data.

 

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