SECI Releases ₹5.49 Billion for Solar and Wind Power Purchased in March

The Solar Energy Corporation of India (SECI) disbursed payments to the tune of ₹5.49 billion (~$72.67 million) to solar and wind power generators for the power purchased in March 2022. The disbursed amount accounted for 90.53% of the total amount paid by the nodal agency in the month.

In March, the nodal agency disbursed ₹6.07 billion (~$80.27 million), which included solar and wind power purchases, reimbursements to developers, duties, and other remunerations.

Wardha Solar (Maharashtra), Azure Power Forty Three, EDEN Renewable Cite, Renew Sun Waves, and Renew Wind Energy (AP2) were the primary beneficiaries of the payments made in March.

Unlike the payments by distribution companies (DISCOMs) which are irregular and mostly overdue, monthly payments by SECI provide relief to renewable developers.

DISCOMs owed renewable energy generators ₹209.16 billion (~$2.74 billion) in overdue payments, excluding disputed amounts at the end of March 2022, according to the data released by the Ministry of Power. The figure reported was 2% higher than ₹205.17 billion (~$2.68 billion) at the end of February 2022.

SECI reimbursed ₹116.49 million (~$1.54 million) to solar energy developers against Goods and Services Tax (GST) and safeguard duty (SGD) claims as per the annuity method.

The agency also released ₹20.60 million (~$272,246) as a subsidy for the rooftop solar program. The primary beneficiaries under the rooftop solar program were Sukhbir Agro Energy and Sudhir Power. It also released ₹139.07 million (~$1.84 million) as subsidy under the viability gap funding (VGF) program and ₹31.92 million (~$421,831) toward transmission charges.

SECI also paid ₹196.86 million (~$2.60 million) to contractors and service providers during March. As open access charges, the agency paid ₹873,978 (~$11,551).

The agency refunded central financial assistance of ₹26.87 million (~$355,149) to the Ministry of New and Renewable Energy for solar projects. SECI also refunded the dispute resolution committee fee of ₹20.80 million (~$274,942).

SECI also paid corporate social responsibility (CSR) expenses to the tune of ₹19.70 million (~$260,375).

For February 2022, the nodal agency disbursed ₹5.56 billion (~$73.60 million) to solar and wind power developers for the green energy procured. The disbursed amount accounted for 87% of the overall amount paid by the nodal agency for the month.