The Solar Energy Corporation of India (SECI) has disbursed ₹9.4 billion (~$114.2 million) to wind and solar energy generators for the electricity procured in March 2023.

Payments to power generators saw a 6% rise in March from the preceding month. On a year-over-year basis, the payments surged 71%.

The disbursements accounted for approximately 61.1% of the ₹15.4 billion (~$186.8 million) allocated for the month.

Azure Power Forty Three, Adani Solar Energy Jaisalmer One, Adani Hybrid Energy Jaisalmer One, Adani Hybrid Energy Jaisalmer Two, and Adani Hybrid Energy Jaisalmer Three accounted for the largest portion of the disbursements.

SECI’s payments to wind and solar power generators included ₹36.67 million (~$443,332) for transmission charges and ₹121.12 million (~$1.5 million) for open access charges.

The rise in SECI payments on both an annual and sequential basis to wind and solar power generators bodes well for India’s efforts to move away from a reliance on fossil fuels to a clean energy regime.

SECI paid ₹13.9 million (~$168,023) as subsidy under the rooftop solar program.

Subsidy released under the solar park program stood at ₹4.2 billion (~$ 51.4 million), accounting for 27.5% of the total disbursements.

NTPC Renewable Energy, Maharashtra State Power Generation Company, Gujarat State Electricity Corporation, Rewa Ultra Mega Solar, and Bundelkhand Saur Urja were among the bigger beneficiaries of the solar park subsidies.

SECI also disbursed ₹1.2 billion (~$14.5 million) to contractors and service providers and refunded ₹96.9 million (~$1.2 million) of excess money received.

The nodal agency reimbursed ₹114.22 million (~$1.4 million) to solar power developers against goods and services tax and safeguard duty claims under the annuity method.

According to a recent statement by the Ministry of Power, state-owned power distribution companies were able to clear outstanding dues worth ₹246.8 billion (~$3.04 billion) in just four installments.

Mercom had previously reported on SECI’s consideration to soon enter the market for delivering renewable energy solutions through open access to the commercial and industrial segment – an area that has been the exclusive domain of private developers thus far.