SECI Paid ₹4.6 Billion to Solar and Wind Developers in August 2020
The nodal agency paid $67.4 million in GST and safeguard duty reimbursements to solar developers
The Solar Energy Corporation of India (SECI) paid nearly ₹4.6 billion (~$62.4 million) to solar and wind developers in August 2020, which amounted to almost 84% of the total amount disbursed by it during the month.
According to the statement released by SECI, it disbursed nearly ₹5.5 billion (~$74.6 million) in August.
The nodal agency stated that it spent nearly ₹67.4 million (~$916,335) in payments to solar power developers in terms of reimbursements. The amount included ₹27.1 million (~$367,892) in Goods and Services Tax (GST) and nearly ₹40.3 million (~$547,086) toward safeguard duty reimbursements.
The government agency released ₹566.15 million (~$7.68 million) as subsidies under the Viability Gap Funding (VGF) program. It also released ₹40.47 million (~$549,394) as subsidies under the rooftop solar program in August.
As per the statement, SECI released nearly ₹137.9 million (~$1.87 million) in the form of the return of interest on central financial assistance to the Ministry of New and Renewable Energy (MNRE). Apart from this, the agency paid nearly ₹9.4 million (~$127,608) as refunds of central financial assistance to MNRE.
Further, the amount paid by SECI for transmission charges in August accounted for nearly ₹37.18 million (~$504,731).
Wardha Solar (Maharashtra) Private Limited, Clean Solar Power (Gulbarga) Private Limited, Green Infra Wind Power, and Orange Sironj Wind Power Private Limited were among the developers who received the highest subsidies in August. SECI also spent nearly $46.4 million (~$629,896) in contractor and service provider payments.
In July, the government agency disbursed nearly ₹5.2 billion (~$70.2 million) to developers for the purchase of solar and wind power. This represented about 75% of the total payments made by SECI during the month.
Mercom has previously written that solar developers have been struggling to get their dues, and it has adversely affected their business and the pace of project development in the country.