SECI Disburses Rs 770 Cr in October, Rs 370 Cr for Solar & Wind Power

SECI has published all the payments (solar/ wind power procured, transmission fees, subsidy, and GST rebates) it has made in October 2020.

The Solar Energy Energy Corporation of India (SECI), the nodal agency for implementing renewable energy projects in the country recently published a list of all the payments (solar/ wind power procured, transmission fees, subsidy and GST rebates) it has made to solar/wind power developers for the month of October 2020.

According to the latest datasheet published by the nodal agency, it has released a total of Rs 770 crore in October, and a majority- roughly 50 percent – of this was to solar and wind project developers for clean power procured which amounts to Rs 370 crore paid out to a total of 218 project owners/ developers.

The biggest payments under this category during the month were made to:

1. Orange Sironj Wind Power  – Rs 16.26 crore
2. Clean Solar (Bhadla)            – Rs 15.59 crore
3. SB Energy One Pvt. Ltd.      – Rs 14.23 crore
4. Wardha Solar (Maharashtra) – Rs 10.44 crore
5. SB Energy Four Pvt. Ltd.      – Rs  9.51 crore

The other big payouts were made under the Central Public Sector Undertaking (CPSU) Program Phase-II, which is for the installation of rooftop solar power systems on government buildings across India. A total of roughly Rs 303 crore was made out to NTPC Ltd in two transactions.

The second payment to NTPC, under CPSU-II, of Rs 189.58 crore was the single biggest payment made out to a single entity/ firm under any category for the month of October. The first payment of Rs 113.86 crore was the second-largest sum paid out during the month. Together, the payment made to NTPC, under the CPSU-II scheme, amounted to almost 40 percent of the total payments made in the month.

Other payments include GST and Safeguard Duty reimbursements which were made out to 11 beneficiaries for a total of approximately Rs 8 crore.

In May, we had reported that the agency had reimbursed six firms or SPDs (across their multiple subsidiary special purpose vehicles) for GST claims to the tune of Rs 10.35 crore. The six firms that have been reimbursed included ACME Solar, Azure Power, Phelan Energy, Fermi Solar, Wardha Solar (PSEPL subsidiary), Parampujya Solar (Adani Green Energy subsidiary).

It was in February 2019, that the Central Electricity Regulatory Commission (CERC), after hearing on the matter raised by local solar project developers, had issued an order accepting the Goods and Services Tax (GST) as a change in the law in case of Power Purchase Agreements (PPA).

For a list of all the payments made by the agency during the month click here.