SECI Disbursements to Solar and Wind Generators Rise 15% YoY in November 2023

The nodal agency disbursed a total of ₹9.4 billion during the month


The Solar Energy Corporation of India (SECI) paid solar and wind power producers ₹9.07 billion (~$108.9 million) for the energy purchased in November 2023.

The disbursement reflected a decline of 9% from October but increased by 15% on a year-over-year basis.

In November, disbursements to solar and wind developers constituted 96.5% of the total payments. The nodal agency disbursed a total of ₹9.4 billion (~$112.8 million) during the month.

SECI disbursed ₹134.5 million (~$1.6 million) to compensate a contractor involved in the execution of the agency’s project by Tata Power Solar Systems.

The agency reimbursed ₹115.8 million (~$1.4 million) to solar power developers against goods and services tax, safeguard duty, and basic customs duty claims under the annuity method. Azure Power Forty Three, Clean Solar (Bhadla), SB Energy Four, Azure Power India, and SBG Cleantech Projecto Five were the major beneficiaries.

A total of ₹36.7 million (~$440,562) was disbursed to contractors and service providers.

During the month, SECI disbursed ₹35.5 million (~$426,318) towards transmission charges to Rajasthan Rajya Vidyut Prasaran Nigam, Madhya Pradesh Power Transmission Company, and Gujarat Energy Transmission Corporation.

It also met corporate social responsibility expenses to the tune of ₹6.8 million (~$81,603).

SECI disbursed ₹1.6  million (~$19,501) towards open access charges. JSW Renew Energy Two was the sole beneficiary.

It reimbursed ₹1.09 million (~$13,095) to power project developers against basic customs duty claims.

Recently, SECI invited bids from scheduled commercial banks or financial institutions for a term loan of ₹10 billion (~$120.24 million) to develop a 300 MW solar power project in the Ramagiri village of Sri Satya Sai District in Andhra Pradesh.

Earlier, SECI invited quotations for a short-term working capital credit facility of up to ₹6 billion (~$72.3 million) to help it make monthly payments to solar, wind, and hybrid energy projects.

SECI earned over ₹100 billion (~$1.22 billion) in revenues from trading renewable power in the financial year 2022-23, the highest ever since its inception.