SECI Payout of Rs 804 Cr to Solar & Wind Developers for Oct Sees 10% Slide Since Sep

By Saur News Bureau/ Updated On Tue, Dec 6th, 2022

Highlights :

Payments totaling Rs 804 crore were made to solar and wind power producers by the Solar Energy Corporation of India (SECI) for the electricity they generated in October 2022.
The amount is almost 10% less than what was paid out in September. Against its power purchases, the agency had released Rs 893 crore.

SECI Payout of Rs 804 Cr to Solar & Wind Developers for Oct Sees 10% Slide Since Sep

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Payments totaling Rs 804 crore were made to solar and wind power producers by the Solar Energy Corporation of India (SECI) for the power it purchased in October 2022. The amount is almost 10% less than what was paid out in September. Against its power purchases, the agency had released Rs 893 crore. Nearly 88% of the nodal agency’s total payments for the month were made in disbursements in October. In October, the agency paid out a total of Rs 915 crore in duties, developer reimbursements, and payments for the purchase of solar and wind energy.

In October, the payments were primarily made to Sprng Renewable Energy, Azure Power Forty-Three, Ayana Renewable Power One, Eden Renewables, and Adani Hybrid Energy Jaisalmer One.

The state-owned power distribution firms (DISCOMs), according to a recent statement from the Ministry of Power, paid up past dues of Rs 24680 crore in just four installments. The amount owed to suppliers, including generating firms, transmission companies, and traders, as of November 2022 was Rs 113000 crore, down 17% from June. In the last five months, the DISCOMs have also paid off almost Rs 168000 crore of their outstanding debts, the Ministry continued.

In light of this, SECI’s payments to solar and wind developers have provided additional assistance to renewable generators, who have been bearing the brunt of DISCOMs’ previously delayed payments. The agency additionally provided a subsidy of 75.222 crores under the viability gap funding support program.

SECI reimbursed the Ministry of New and Renewable Energy with Rs. 1.008 crores as a reimbursement of the central financial assistance (CFA). According to the annuity system, the nodal agency reimbursed solar power developers Rs 11.445 crore for goods and services tax (GST) and safeguard duty claims. It disbursed Rs 6.769 crore as a subsidy return under the rooftop solar program and paid Rs 1.828 crore in open access fees.