DISCOM Dues to Renewable Generators Mount to ₹205.7 Billion at the End of February
Tamil Nadu had the highest backlog in terms of overdue payments at the end of the month
March 15, 2022
Distribution companies (DISCOMs) owed renewable generators ₹205.17 billion (~$2.68 billion) in overdue payments (excluding disputed amounts) at the end of February 2022, according to the data released by the Ministry of Power.
The figure reported for February was 45% higher than ₹141.42 billion (~$1.89 billion) registered for January 2022.
According to the data released by the Ministry of Power’s payment ratification and analysis portal PRAAPTI, the outstanding amount to renewable generators at the end of the month stood at ₹3.92 billion (~$51.21 million). At the end of January, the amount was ₹11.75 billion (~$157.13 million).
At the end of the month, DISCOMs owed all power generators an overdue amount equivalent to ₹1.05 trillion (~$13.73 billion), an increase of 3.4% from ₹1.01 trillion (~$13.28 billion) at the end of January 2022.
The outstanding amount at the end of February 2022 stood at ₹165.7 billion (~$2.17 billion), a decrease of 1% from ₹163.32 billion (~$2.14 billion) at the end of January this year.
For February, the DISCOMs released $136.49 billion (~$1.79 billion) against the overdue amount, an increase of 2% compared to $134.2 billion (~$1.76 billion) during the month of January. The DISCOMs released ₹39.5 billion (~$515.98 million) against the outstanding amount, marking a decrease of 1% from ₹39.88 billion (~$520.95 million) in January.
The three renewable generators who owed the most were Adani Green Energy, Hero Future Energies, and Tata Power Company at the end of the month.
Among the states, Tamil Nadu had the highest backlog with an overdue amount of ₹206.6 billion, followed closely by Maharashtra and Rajasthan, with ₹192.85 billion (~$2.52 billion) and ₹108.73 billion (~$1.42 billion), respectively.
In terms of ease of doing business with the DISCOMs, Jammu and Kashmir and Meghalaya were at the lowest rung. Other states that did badly during the month were Tamil Nadu, Telangana, Andhra Pradesh, Maharashtra, Rajasthan, and Jharkhand.
The states that performed well during the month were Himachal Pradesh, Uttarakhand, Assam, Arunachal Pradesh, Nagaland, Chhattisgarh, Odisha, Gujarat, Goa, and Kerala.
Last December, the Ministry of Power said that 39 out of 55 electricity DISCOMs had submitted draft proposals under the ₹3.03 trillion (~$40.82 billion) reforms-based result-linked power distribution program. The Ministry had said that Meghalaya and Assam were the frontrunners in planning operational and financial reforms.
Subscribe to Mercom’s real-time Regulatory Updates to ensure you don’t miss any critical updates from the renewable industry.
Get the most relevant India solar and clean energy news.
RECENT POSTS
LATEST HEADLINES
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules
Mar 24, 2023
Intra-State Sections of Evacuation Infrastructure for Renewables Delayed
Mar 24, 2023
EnBW Takes €2.4 Billion Final Investment Decision on Offshore Wind Project
Mar 24, 2023
India Missed 2022 Renewables Target as Rooftop Solar and Wind fell Short
Mar 24, 2023
Researchers Aim to Accelerate Delivery of Space-Based Solar Power to Earth
Mar 24, 2023
India added an impressive 2.5 GW open access solar capacity in 2022, registering a growth of 92% year-over-year (YoY), according to the 2022 Q4 & Annual Mercom India Solar Open Access Market Report. Karnataka emerged as the to...
March 23, 2023
Markets & Policy
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar ModulesThe Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements betwe...
March 24, 2023
C&I
In Bengaluru, a 100 kW Solar System Can Save C&I Entities ₹1 Million AnnuallyMercom India successfully concluded the C&I Clean Energy Meet 2023 in Bengaluru, where stakeholders in the solar sector and commercial and industrial entities converged to enthusiastically discuss the benefits of renewable ene...
March 24, 2023
Other
Gensol Acquires Solar Tracker Maker Scorpius for ₹1.35 BillionGensol Engineering, a part of solar engineering, procurement, and construction (EPC) company Gensol Group, has acquired India-based solar tracker manufacturer Scorpius Trackers for ₹1.35 billion ($16.4 million). Gensol said the ac...
March 23, 2023
Trending News
Mercom Focus
Researchers Find Solution to Manage Load in Solar PV & Storage Systems
February 28, 2023
February 27, 2023
February 24, 2023
January 17, 2023
Magazine
Latest News
The Ministry of New and Renewable Energy (MNRE) has modified the Approved List of Models and Manufacturers (ALMM) guidelines and provided exceptions to broaden the qualification criteria for modules produced under agreements...
March 24, 2023
The Ministry of New and Renewable Energy (MNRE) told the Parliamentary Standing Committee on Energy that the intra-state stretches of the Green Energy Corridor (GEC) have been delayed due to various reasons, including...
March 24, 2023
German electric utility company Energie Baden-Wuerttemberg (EnBW) has made its final €2.4 billion (~$2.6 billion) investment decision on He Dreiht, a major wind project in the German North Sea. The project has a capacity of 960...
March 24, 2023
The Parliamentary Standing Committee on Energy report has isolated underwhelming progress on rooftop solar and wind energy projects as the primary reason for India falling short of achieving its renewable energy capacity target...
March 24, 2023
Researchers at Northumbria University are studying ways of producing wireless electricity from space to Earth by harvesting the Sun’s energy. U.S.-based aerospace, defense, and information security organization Lockheed Martin...
March 24, 2023
The Maharashtra Electricity Regulatory Commission (MERC) recently directed Hindustan Petroleum Corporation (HPCL) and the Maharashtra State Electricity Distribution Company (MSEDCL) to recompute the delayed payment charge from...
March 24, 2023
The National Renewable Energy Laboratory (NREL) has devised a new way to produce perovskite solar cells that could speed its commercialization. Different layers are typically added sequentially to a conductive glass substrate to...
March 24, 2023
Saudi Arabia-based energy company ACWA Power has signed power purchase and investment agreements with National Electric Grid of Uzbekistan, and the Ministry of Investment, Industry, and Trade to develop new solar and battery...
March 24, 2023
The China Securities Regulatory Commission has approved the registration of CSI Solar, the engineering, procurement, and construction arm of solar module maker Canadian Solar, to issue an initial public offering (IPO). The...
March 24, 2023
Renewable capacity grew by 9.6% in 2022, adding a record 295 GW worldwide. This accounts for 83% of all power capacity added last year and brings the global renewable generation capacity to 3,372 GW by the end of last year, a...
March 24, 2023
Get the most relevant India solar and clean energy news.
POPULAR POSTS
Government Clarifies ALMM Enlistment Guidelines for Co-branded Solar Modules
Mar 24, 2023
Intra-State Sections of Evacuation Infrastructure for Renewables Delayed
Mar 24, 2023
EnBW Takes €2.4 Billion Final Investment Decision on Offshore Wind Project
Mar 24, 2023
India Missed 2022 Renewables Target as Rooftop Solar and Wind fell Short
Mar 24, 2023
Researchers Aim to Accelerate Delivery of Space-Based Solar Power to Earth
Mar 24, 2023