The Solar Energy Corporation of India (SECI) paid nearly ₹4.08 billion (~$56.2 million) to solar and wind developers for the purchase of power in February 2021, as per the data released by the nodal agency. These disbursements accounted for 90.5% of the total amount disbursed during the month.
In February, SECI paid around ₹4.51 billion (~$62.1 billion) in solar and wind power purchases, subsidies, reimbursements to developers, duties, and tax reimbursements, among other charges.
In January, SECI paid about ₹4.25 billion (~$58.6 million) to solar and wind developers. These expenses amounted to over 89% of its disbursements during the month.
Wardha Solar (Maharashtra), Clean Solar (Bhadla), and SB Energy One were among those receiving the most payouts for power purchases in February 2021.
The amount released by SECI under the defense program stood at ₹50 million (~$669,102).
The nodal agency spent nearly ₹61 million (~$816,305) on subsidies under the rooftop solar program. SunSource Energy, Sukhbir Agro Energy, Centaurus Green Energy, and Banco Construction were the top beneficiaries for subsidies in the rooftop segment.
SECI also reimbursed ₹66 million (~$883,215) toward Goods and Services Tax and Safeguard Duty claims as per the annuity method. This accounted for nearly 1.5% of the total amount disbursed by the agency. SB Energy Four, Azure Power India, Wardha Solar (Maharashtra), and Clean Sustainable Energy were among the companies that received the most reimbursements from the agency.
The agency disbursed nearly ₹32 million (~$428,225) on transmission charges. Gujarat Energy Transmission Corporation Limited and Rajasthan Rajya Vidyut Prasaran Nigam Limited were the only two recipients of funds during February.
The agency released nearly ₹55 million (~$736,012) as payments to contractors and service providers. It also released ₹4 million (~$53,528) towards open access charges.
These disbursements by SECI will come as a relief for renewable energy developers who are reeling under the pressure of the outstanding payments by the distribution companies (DISCOMs) across the states. The DISCOMs owed ₹123.45 billion (~$1.68 billion) to renewable energy generators (excluding disputed amounts) in overdue payments across 206 pending invoices at the end of February 2021, according to data released by the Ministry of Power.
Rakesh 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.