The Maharashtra Electricity Regulatory Commission (MERC) has directed the Maharashtra State Electricity Distribution Company Limited (MSEDCL) to pay dues to wind power generators Shah Lulla Estate Developers (SLED) and BLP Wind Project (Amberi) Private Limited (BLP).
The MERC was hearing two separate petitions, one filed by SLED and the other by BLP against MSEDCL for non-payment of their dues. The MERC came out with a common order providing relief to the two wind power generators.
In its order, the MERC has directed the MSEDCL to release the payments to the petitioners towards the principal amount and interest as per the plan submitted to the commission. MERC stated that the reconciliation must be completed within two weeks from the date of this order and that a reconciled report of outstanding dues be submitted to the commission within two days thereafter.
In its order, MERC also stated that if MSEDCL deviates from its commitment, penal interest will accrue thereafter (beyond the date committed in the plan) at 1.25 percent per month on the principal amount. MSEDCL has also been directed to submit its compliance report to the Office of the Commission.
The ruling paves the way for payment of ₹6,918,529 (~$93,763.36) to SLED. This includes principal amount of ₹6,691,849 (~$90,691.28) and interest of ₹226,680 (~$3,072.08). BLP will pe paid dues amounting to ₹176,019,452 (~$2,385,503.62).
This ruling is similar to the order in which the MERC directed MSEDCL to pay ₹41.0464 billion (~$0.56 billion) in dues to wind power generators in Maharashtra. This will help boost the confidence of developers looking at developing new wind projects in the state.
Saumy is a senior staff reporter with MercomIndia.com covering business and energy news since 2016. Prior to Mercom, Saumy was a copy editor at Thomson Reuters. Saumy earned his Bachelors Degree in Journalism & Mass Communication from the Manipal Institute of Communication at Manipal University. More articles from Saumy Prateek.