The Solar Energy Corporation of India (SECI) disbursed ₹6.69 billion (~$86.03 million) to solar and wind power generators for the power purchased in April 2022. The disbursed amount accounted for nearly 94% of the total paid by the nodal agency during the month.
In April this year, the nodal agency disbursed ₹7.11 billion (~$91.71 million), including solar and wind power purchases, reimbursements to developers, duties, and other remunerations.
Wardha Solar (Maharashtra), Green Infra Wind Power, Azure Power Forty Three, Eden Renewable Cite, ReNew Sun Waves, Alfanar Energy, and SB Energy One were the main recipients of the payments in April.
The monthly payments made by SECI provide much-needed relief to renewable generators that have to cope with irregular and erratic payments by distribution companies (DISCOMs).
DISCOMs owed renewable generators ₹204.39 billion (~$2.64 billion) in overdue payments (excluding disputed amounts) at the end of May, according to the data released by the Ministry of Power. The figure marked an increase of nearly 2% compared to ₹200.44 billion (~$2.59 billion) at the end of April 2022. At the end of May, the outstanding amount to renewable generators increased by a massive 425% to ₹8.97 billion (~$115.53 million).
Under the annuity method, SECI reimbursed ₹116.53 million (~$1.50 million) to solar power developers against Goods and Services Tax (GST) and Safeguard Duty claims.
The nodal agency released ₹10.66 million (~$137,088) as a subsidy under the rooftop program and ₹32.90 million (~$423,094) towards transmission charges.
Centaurus Green Energy, Sterling and Wilson, and Star Energy Systems availed of the maximum amounts under the rooftop solar program.
The agency released ₹14.45 million (~$185,827) as payments to contractors and service providers and ₹94.25 million (~$1.21 million) as subsidy under the viability gap funding program.
SECI also released ₹141.4 million (~$1.82 million) in the refund of extension charges during the month.
In March, the nodal agency disbursed ₹5.49 billion (~$72.67 million) to solar and wind power generators for the power purchased. The disbursed amount accounted for 90.53% of the total amount paid by the nodal agency in the month.
Rakesh Ranjan is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). More articles from Rakesh Ranjan.