SECI Releases ₹1.73 Billion Subsidy Under Solar Park Program in January 2024

The nodal agency disbursed a total of ₹12.75 billion during the month


The Solar Energy Corporation of India (SECI) paid solar and wind power producers ₹9.39 billion (~$113.3 million) for the energy purchased in January 2024.

Disbursements to solar and wind developers constituted 93.6% of the total payments. The major beneficiaries were Adani Solar Energy Jaisalmer One, Azure Power Forty Three, Adani Hybrid Energy Jaisalmer One, Adani Wind Energy MP One, and Renew Wind Energy (AP2).

The nodal agency disbursed a total of ₹12.75 billion (~$153.9 million) during the month.

SECI released ₹1.73 billion (~$21 million) towards central financial assistance under the Solar Park Program. Gujarat Industries Power Company, Gujarat State Electricity Corporation, and TUSCO received subsidies under the program.

The agency paid ₹1.05 billion (~$12.8 million) to Tata Power Solar Systems for its project.

SECI released ₹156.5 million (~$1.9 million) as a subsidy under the Viability Gap Funding Program. Wardha Solar (Maharashtra), Clean Solar Power (Gulbarga), FRV India Solar Park II, and Gujarat Power Corporation were the beneficiaries.

The agency used ₹125.09 million (~$1.5 million) towards a deposit for a new commercial office building.

It reimbursed ₹115.86 million (~$1.4 million) to solar and wind power developers against goods and services tax safeguard duty and basic custom duty claims under the annuity method. The primary beneficiaries were Azure Power Forty Three, Clean Solar (Bhadla), Sb Energy Four, Azure Power India, and Sbg Cleantech Projecto Five.

SECI also released ₹68 million (~$820,661) towards subsidy under the Central Public Sector Undertaking Program, Phase II.  Assam Power Distribution Company was the sole beneficiary of the subsidy.

In all, ₹60.43 million (~$729,286) was disbursed to contractors and service providers.

During the month, SECI disbursed ₹34.09 million (~$411,359) towards transmission charges. The beneficiaries were Rajasthan Rajya Vidyut Prasaran Nigam, Madhya Pradesh Power Transmission Company, and Gujarat Energy Transmission Corporation.

It also spent ₹6.58 million (~$79,421) on corporate social responsibility programs.

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.