SECI Refunds ₹54 Million in Subsidy for Rooftop Solar Program in September 2022
The nodal agency released a total of ₹10.82 billion during the month
The Solar Energy Corporation of India (SECI) released ₹8.93 billion (~$108.61 million) in payments to solar and wind power generators for the power purchased in September 2022. The disbursal accounted for nearly 83% of the total amount paid by the nodal agency during the month.
The agency disbursed a total of ₹10.82 billion (~$131.52 million), including payments towards solar and wind power purchases, reimbursements to developers, and duties in September.
Adani Wind Energy Kutch Three, Alfanar Energy, Adani Hybrid Energy Jaisalmer One, Sprng Renewable Energy, Orange Sironj Wind Power, Wardha Solar (Maharashtra), Ayana Renewable Power One, and Azure Power Forty-Three were the main recipients of the payments in September.
The agency also reimbursed ₹1.25 billion (~$15.22 million) as a refund of the central financial assistance (CFA) to the Ministry of New and Renewable Energy (MNRE). SECI is working as an implementing agency of MNRE and disburses CFA under various programs of the ministry, per terms of the respective approval orders. These include solar parks, solar installations on canal tops and canal banks, and defense establishments.
SECI reimbursed ₹122.13 million (~$1.49 million) to solar power developers against goods and services tax (GST) and safeguard duty claims per the annuity method. The nodal agency also released ₹101.04 million (~$1.23 million) for subsidy released under the viability gap funding program.
It paid ₹56.57 million (~$683,456) as open access charges and released ₹54.03 million (~$652,769) as a refund of subsidy under the rooftop solar program.
The agency disbursed ₹29.17 million (~$352,420) as payment toward transmission charges and ₹94.53 million (~$1.14 million) as payments to contractors and service providers.
SECI payments come as a relief to developers struggling to maintain the rising project costs and non-payment from the state DISCOMs.
In August 2022, SECI released ₹8.13 billion (~$98.3 million) in payments to solar and wind power generators for the power purchased. The disbursal accounted for nearly 73% of the total amount paid by the nodal agency during the month.