SECI Disbursements to Solar, Wind Generators See 46% YoY Rise in September 2023
The nodal agency disbursed a total of ₹15.26 billion during the month
The Solar Energy Corporation of India (SECI) paid solar and wind power producers ₹13.04 billion (~$156.6 million) for the energy purchased in September 2023. The payment reflected an increase of 7% from the August disbursements.
The disbursements increased by 46% on a year-over-year basis.
In September, disbursements to solar and wind developers constituted 83.3% of the total payments made. The nodal agency disbursed a total of ₹15.26 billion (~$183.3 million) during the month.
It released ₹1.84 billion (~$22.1 million) towards subsidy under the Central Public Sector Undertaking Program, Phase II.
SECI has returned success fees amounting to ₹120 million (~$1.4 million) to bidders.
The agency disbursed ₹114.5 million (~$1.4 million) to solar power developers against goods and services tax (GST) and safeguard and basic customs duty claims under the annuity method.
Azure Power Forty Three, Clean Solar (Bhadla), Wardha Solar (Maharashtra), Sb Energy Four, and Azure Power India were among the biggest recipients of GST and safeguard and basic customs duty reimbursements.
SECI also disbursed ₹53.9 million (~$646,927) upfront to solar power developers against GST and safeguard and basic customs duty claims.
During the month, SECI disbursed ₹45.4 million (~$544,947) towards transmission charges and ₹12.3 million (~$147,585) towards open access charges.
In all, ₹23.7 million (~$285,236) was disbursed to contractors and service providers.
It also returned a central financial assistance of ₹10.8 million (~$130,412) to the Ministry of New and Renewable Energy received under the rooftop program.
Recently, 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.