The Solar Energy Corporation of India (SECI) paid solar and wind power producers ₹12.15 billion (~$146.4 million) for the energy purchased in August 2023. The payment reflected an increase of 6% from the July disbursements.

The disbursements increased by 49% on a year-over-year basis.

In August, disbursements to solar and wind developers constituted 94.1% of the total payments made by the nodal agency.

SECI made payments of ₹582.30 million (~$7 million) to contractors and service providers.

Tata Power Solar Systems, Easy Source HR Solutions, Mode Advertising & Marketing, and National Informatics Centre Services were the most significant contractors and service providers receiving the payments.

The agency disbursed ₹105.9 million (~$1.3 million) to solar power developers against goods and services tax (GST) and safeguard and basic customs duty claims under the annuity method.

Azure Power Forty Three, Clean Solar (Bhadla), SB Energy Four, Azure Power India, and SBG Cleantech Projecto Five were among the biggest recipients of GST and safeguard and basic customs duty reimbursements.

During the month, SECI disbursed ₹52.8 million (~$635,696) towards transmission charges and ₹13.1 million (~$157,764) towards open access charges.

Rajasthan Rajya Vidyut Prasaran Nigam, Thar Surya 1, Madhya Pradesh Power Transmission Company, and Gujarat Energy Transmission Corporation were among the beneficiaries.

SECI also paid corporate social responsibility expenses to the tune of ₹6.1 million (~$73,462).

Recently, SECI invited quotations for a short-term working capital credit facility of up to ₹6 billion (~$72.3 million) to help it make monthly payments to solar, wind, and hybrid energy projects. The credit facility can be a cash credit, overdraft, or working capital demand loan. The non-fund-based credit facility will be for one year, with an option to renew it for a year more. Multiple banks may do facility tie-ups; however, the total facility will only be up to ₹6 billion (~$72.3 million).

Earlier, SECI had earned over ₹100 billion (~$1.22 billion) in revenues from trading renewable power in the financial year 2022-23, the highest ever since its inception.