SECI Disbursed ₹5.2 Billion To Renewable Energy Developers

In Clean Fund, News, Renewable Energy, Sustainability
SECI

The Solar Energy Corporation of India Limited (SECI) paid nearly ₹5.2 billion (~$70.2 million) to developers for the purchase of solar and wind power in July 2020.

This represented about 75% of SECI’s total payments made during the month. According to its statement, SECI disbursed around ₹6.89 billion (~$92.9 million) in total during July.

Wardha Solar (Maharashtra), Azure Power India, Clean Sustainable Energy Private Limited, Parampujya Solar Energy were some of the companies that received the largest amounts in refund towards GST and safeguard duty claims.

In terms of subsidies, SECI released about ₹570 million (~$7.7 million). It paid ₹10.5 million (~$141,654) towards subsidies under the Central Public Sector Undertaking (CPSU) Program, ₹54.6 million (~$736,599) under the Rooftop Program, and ₹504.9 million (~$6.8 million) in subsidies under the Viability Gap Funding (VGF) program.

SECI’s payments in July also included ₹826.1 million (~$11.1 million) in refunds. These refunds comprised central financial assistance (CFA) to the Ministry of New and Renewable Energy (MNRE) for the solar park program, grants, and interest on CFA to the MNRE.

This is a Syndicate News Feed; edited by Clean-Future Team

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