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					</table><p>The Solar Energy Corporation of India (SECI) paid solar and wind power producers ₹11.45 billion (~$138 million) for the energy purchased in July 2023. The payment reflected a slight 0.23% <a href="https://www.mercomindia.com/seci-disbursements-solar-wind-26-yoy-rise" target="_blank" rel="noopener">decrease</a> from the June disbursements.</p>
<p>The payments, when <a href="https://www.mercomindia.com/seci-released-%E2%82%B99-54-billion-wind-solar-july-2022" target="_blank" rel="noopener">compared</a> to the corresponding period in the previous year, surged by 19.6% from ₹9.57 billion (~$115.5 million).</p>
<p>In July, disbursements to solar and wind developers constituted approximately 79.61% of the total payments made by the nodal agency.</p>
<p>Specifically, the agency disbursed ₹14.38 billion (~$173.5 million) in duties, payments, and developer reimbursements for the procurement of solar and wind energy during the month.</p>
<p>Gujarat Industries Power Company, Tata Power Solar Systems, Adani Solar Energy Jaisalmer One, Adani Wind Energy MP One, Azure Power Forty-Three, Wardha Solar (Maharashtra), Adani Hybrid Energy Jaisalmer One, Sitac Kabini Renewables, and Sprng Renewable Energy received the majority of the payments.</p>
<p>SECI disbursed ₹1.28 billion ($15.4 million) under the Viability Gap Funding (VGF) program, and another ₹220 million ($2.6 million) was released as subsidies under the Solar Park program.</p>
<p>During the month, SECI disbursed ₹38.2 million (~$461,027) towards transmission charges and ₹22.7 million (~$273,961) towards open access charges.</p>
<p>It made payments of ₹1.2 billion (~$14.4 million) to contractors and service providers, along with an additional ₹660,000 (~$7,965.6) for filing fees.</p>
<p>India&#8217;s goal is to achieve 500 GW of renewable energy capacity by 2030, with a significant share coming from solar and wind sources. The annual increase in SECI payments to these sectors can be seen as a step toward reaching this target.</p>
<p>Recently, SECI <a href="https://www.mercomindia.com/seci-capital-credit-facility-6-billion" target="_blank" rel="noopener">invited</a> 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. The credit facility can be a cash credit, overdraft, or working capital demand loan. The non-fund-based credit facility will be for one year, with an option to renew it for a year more. Multiple banks may do facility tie-ups; however, the total facility will only be up to ₹6 billion (~$72.3 million).</p>
<p>Earlier, SECI had <a href="https://www.mercomindia.com/seci-revenue-power-trading-100-billion" target="_blank" rel="noopener">earned</a> over ₹100 billion (~$1.22 billion) in revenues from trading renewable power in the financial year 2022-23, the highest ever since its inception.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gautamee-hazarika/" target="_blank" rel="noopener">More articles from Gautamee.</a><br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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SECI Disbursements to Solar, Wind Generators See 19.6% YoY Rise


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					</table><p>The Solar Energy Corporation of India (<a href="https://www.seci.co.in/" target="_blank" rel="noopener">SECI</a>) has disbursed a sum of ₹8.9 billion (~$109.5 million) to wind and solar energy developers for the electricity procured in February 2023.</p>
<p>The disbursements made in February accounted for approximately 92.5% of the agency&#8217;s total payments for the month.</p>
<p>Payments to wind and solar power generators saw a 9.58% rise in February 2023 from the <a href="https://www.mercomindia.com/seci-%e2%82%b98-2-billion-to-solar-in-january-2023" target="_blank" rel="noopener">preceding</a> month.</p>
<p>SECI&#8217;s payments to various wind and solar power generators in February 2023 increased by 61.7% year-on-year (YoY).</p>
<p>Following a year-on-year rise, the month-on-month increase in SECI payments is a promising development for India&#8217;s renewable energy sector.</p>
<p>This growth suggests that the government&#8217;s endeavors to encourage the use of renewable energy are yielding results, with a higher activity from wind and solar projects adding to the country&#8217;s power generation mix.</p>
<p>The payments included duties, payments, and reimbursements to developers for procuring wind and solar energy, amounting to ₹9.7 billion (~$118 million).</p>
<p>Adani Solar Energy Jaisalmer, Azure Power Forty Three, Adani Hybrid Energy Jaisalmer, Renew Wind Energy, Wardha Solar, Adani Wind Energy, and Green Infra Wind Power received the largest portion of these disbursements.</p>
<p>In February 2023, SECI paid ₹36.5million (~$443,790) for transmission charges and ₹15. million (~$182,873) for open access charges.</p>
<p>The agency also disbursed ₹19.65 million (~$239,260) to contractors and service providers and refunded ₹189.02 million (~$2.3 million) of excess money received.</p>
<p>India has set an ambitious target of achieving 500 GW of renewable energy capacity by 2030, including 280 GW of solar capacity.</p>
<p>The rise in SECI payments to wind and solar power generators is a positive step toward meeting this objective and decreasing the country&#8217;s dependence on fossil fuels.</p>
<p>In March 2022, SECI <a href="https://www.mercomindia.com/seci-short-term-working-capital" target="_blank" rel="noopener">issued</a> a request for proposals seeking quotations for a short-term working capital credit facility of up to ₹5 billion (~$65.56 million).</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gautamee-hazarika/" class="vcard author" rel="author"><span class="fn">Gautamee Hazarika</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Gautamee,</strong> Staff reporter at Mercom India<br />
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<a href="gautamee@mercomindia.com" target="_blank" rel="noopener">gautamee@mercomindia.com</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/10/Picture1.jpg" width="102" height="102" /><a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">Gautamee</a> is a reporter at Mercom India. Prior to Mercom, Gautamee was working as a multimedia news journalist at ThePrint in New Delhi. She has received her Bachelors in English Honors and Masters in English Literature from St.Stephen&#8217;s College, University of Delhi.<a href="https://mercomindia.com/author/gautamee-hazarika/" rel="noopener">More articles from Gautamee</a></div>
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SECI’s Payments to Wind and Solar Developers Grew 62% YoY in February 2023

<p>Solar Energy Corporation of India Limited (<a href="https://www.seci.co.in/" target="_blank" rel="noopener noreferrer">SECI</a>) disbursed a total of $17.3 million (~₹1.3 billion) to solar and wind developers in May 2020.</p>
<p>According to a statement released by SECI, it released $12.5 million (~₹937 million) for the purchase of solar and wind power and reimbursed $1.38 million (~₹104 million) for the Goods and Services Tax (GST) claims made by solar power developers. The beneficiary companies under the GST claims were Adani, Avaada, Tata Power, Phelan Energy, Azure Power, and ACME Solar.</p>
<p>Payment delays have been a cause of apprehension for solar developers in the country. Mercom <a href="https://mercomindia.com/solar-companies-still-waiting-gst-clarity-refunds/" target="_blank" rel="noopener noreferrer">previously reported</a> that the delay in GST reimbursement and lack of clarity is affecting solar project developers in India.</p>
<p>Besides this, SECI also settled $1.82 million (~₹136 million) under rooftop solar subsidy program to three recipients – Hero Future Energies, CleanMax Solar, and Silver Star Solar.</p>
<p>According to developers, SECI demonstrates a good credit history with a record of making timely payments to developers. SECI has been the implementing agency for many of the programs under the National Solar Mission. However, recently, the Indian Renewable Energy Development Agency Limited (<a href="https://www.ireda.in/" target="_blank" rel="noopener noreferrer">IREDA</a>) <a href="https://mercomindia.com/ireda-seci-implementing-agency-solar-projects/" target="_blank" rel="noopener noreferrer">replaced</a> SECI as the implementing agency for solar projects with Viability Gap funding Support (VGF) by Central Public Sector Undertakings (CPSU) for self-use or use by government entities.</p>
<p>In March 2020, MNRE issued a <a href="https://mercomindia.com/gst-safeguard-duty-solar-mnre-seci-ntpc/" target="_blank" rel="noopener noreferrer">circular</a> stating that GST and Safeguard Duty compensation to solar project developers should be paid within 60 days. The circular by MNRE was addressed to SECI and NTPC, and it warned that if the compensation is not made within two months, a late payment surcharge may be imposed, or the payment can be made on an annual basis spread throughout the power purchase agreement (PPA) tenure.</p>
<p>In April 2020, due to the nationwide lockdown, SECI was unable to raise physical invoices for its buying utilities and requested all state distribution companies and agencies to allow submission of <a href="https://mercomindia.com/seci-discom-digital-invoices-coronavirus-lockdown/" target="_blank" rel="noopener noreferrer">invoices digitally</a> to make it feasible to release the payment to developers.</p>
<p>In a recent <a href="https://mercomindia.com/india-solar-market-update/" target="_blank" rel="noopener noreferrer">Mercom webinar</a>, Jatindra Nath Swain, Chairman and Managing Director of the SECI, who participated as a speaker, said that the corporation has also done its part to help the industry amid the global pandemic. SECI reduced earnest money deposits (EMDs) and performance bank guarantees (PBGs) to make their projects more investor-friendly in these tough times. SECI has also been very timely with payments as far as their power purchase agreements are concerned. He also said that SECI has come up with a formula to address future “change in law” incidents in their PPAs more efficiently. It has also been dealing with cases of supply chain disruptions because of the pandemic on a case-to-case basis, he added.</p>
<p>Also, on the subject of reducing <a href="https://mercomindia.com/mnre-seci-address-indian-solar-industry/" target="_blank" rel="noopener noreferrer">DISCOM risk</a>, the SECI chairman said that they are currently considering implementing a “Contract for Difference” (CFD) model wherein developers will be paid the difference if the discovered tariffs fall below a previously agreed upon “strike price,” from a centrally maintained fund by the state DISCOMs.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/sampath/" class="vcard author" rel="author"><span class="fn">Sampath Krishna</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2018/03/sampath-edited-1.png" alt="Sampath Krishna" />Sampath has been part of the Mercom India research and news team since the company’s inception. He currently oversees all data and research relating to news published on the MercomIndia.com platform. Sampath received his Bachelor’s of Commerce Degree from Kuvempu University and Post Graduate Diploma in Management, from Indira Gandhi National Open University. <a href="https://mercomindia.com/author/sampath/">More articles from Sampath Krishna.</a></p>
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SECI Disburses $12.5 Million for Purchase of Solar and Wind Power in May 2020

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