According to the latest notification issued by the Ministry of New and Renewable Energy (MNRE), any delay in the scheduled commissioning date of solar projects due to unavailability of internal execution or transmission system by solar park developers will now be liable to a penalty.
According to the memorandum, if the delay in the scheduled commissioning of solar projects is caused due to unready internal evacuation or transmission systems and is caused by solar park development agency (SPDA) or solar park implementing agency (SPIA), then the SPDA or SPIA will attract a penalty of ₹ 1,000 (~$13.64) per day.
This amount can be recovered in two ways-
- The government may recover the amount from solar park development agency from the central financial assistance (CFA) given to them
- In case CFA is not available, then National Thermal Power Corporation Limited (NTPC) will recover the amount from solar park developer, who will later collect it from the development or implementing agency.
In such cases, NTPC may issue orders for extension of time, and then only act on recovery of penalty. Read More
Latest posts by mercomindia.com (see all)
- CWA Power Achieves Financial Closure for its 300 MW Sakaka Solar Project in Saudi Arabia - November 16, 2018
- CERC Issues Order to Provide ₹2,153.9 Million in GST Relief to Two Solar Project Developers - November 15, 2018
- Meghalaya Issues Regulations for Deviation Settlement of Solar and Wind Projects - November 15, 2018