The Solar Energy Corporation of India (SECI) paid about ₹4.25 billion (~$58.6 million) to solar and wind developers in January 2021, according to data released by the agency. These expenses amounted to over 89% of its disbursements during the month.
During the month, SECI paid around ₹4.76 billion (~$65.6 million) towards subsidies, solar and wind power purchases, duty, and tax reimbursements, payments for services, among other charges.
Wardha Solar (Maharashtra), Clean Solar (Bhadla), and SB Energy One were some of the companies that received the most payouts for power purchases in January 2021.
SECI spent ₹348 million (~$4.8 million) under the Viability Gap Funding (VGF) program in terms of subsidies. Some of the top beneficiaries were Gale Solarfarms, RattanIndia Solar, and Acme Babadham Solar Power.
It also spent and ₹23 million (~$317,003) on subsidies under the Rooftop Solar Program. Top beneficiaries included Clean Max Enviro Energy Solutions, Centaurus Green Energy, Mahindra EPC Services, and Hero Solar Energy.
The agency also reimbursed ₹66 million (~$909,661) towards Goods and Services Tax (GST) and Safeguard Duty claims under the annuity method. SB Energy Four, Azure Power India, Wardha Solar (Maharashtra), and Clean Sustainable Energy were among the companies that received the most reimbursements.
SECI also spent ₹31 million (~$427,265) on transmission charges. Gujarat Energy Transmission Corporation Limited, Madhya Pradesh Power Transmission Corporation Limited, and Rajasthan Rajya Vidyut Prasaran Nigam Limited were the only three recipients during the month.
Disbursements in December 2020:
SECI also released details about its disbursements in December 2020. It spent a total of ₹3.96 billion ($54.6 million) towards solar and wind power purchases during the month. This amounted to over 90% of the month’s expenses which stood at ₹4.37 billion (~$60.2) million. Compared to the previous month, overall disbursements were down 31%.
SB Energy Four, Green Infra Wind Energy, Clean Solar (Bhadla), and Wardha Solar (Maharashtra) received the most payments for solar and wind power purchases during the month.
SECI released ₹167 million (~$2.3 million) in subsidies under the VGF program during the month. Top beneficiaries included Wardha Solar (Maharashtra) and Sepset Constructions.
It also released ₹104 million (~$1.4 million) in subsidies towards the Rooftop Solar Program. Arunachal Pradesh Power Corporation, ReNew Solar Energy, Clean Max Enviro Energy Solutions, ad Bosch received some of the highest subsidies during the month.
Transmission charges during the month amounted to ₹36 million (~$496,179). Gujarat Energy Transmission Corporation Limited, Rajasthan Rajya Vidyut Prasaran Nigam Limited, and the Madhya Pradesh Power Transmission Corporation Limited were the top recipients.
SECI reimbursed ₹66 million (~$909,661) towards GST and Safeguard Duty claims under the annuity method. The top recipients were SB Energy Four, Azure Power India, Wardha Solar (Maharashtra), and Clean Sustainable Energy.
In November 2020, SECI paid nearly ₹3.85 billion (~$52.6 million) to solar and wind developers in November 2020, which amounted to over 60% of the agency’s total amount disbursed during the month.
In the Union Budget, the government said it would infuse additional capital of ₹10 billion (~$137 million) in Solar Energy Corporation of India (SECI) and ₹15 billion (~$205.6 million) in the Indian Renewable Energy Development Agency (IREDA).
Nithin Thomas is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor’s Degree in Commerce from Loyola College, Chennai. More articles from Nithin.