MNRE Cuts Tariff Ceiling by 70 Paise under CPSU Ph-II Solar Scheme

• The Ministry of New and also Renewable Energy (MNRE) has actually decreased the toll ceiling by 70 paise to Rs 2.8 each from Rs 3.5 each previously under the phase-II of the Central Public Sector Undertaking (CPSU) program for establishing 12 GW of capability solar projects.

Additionally, the federal government has actually enhanced the moment duration for the execution of these projects from the existing 18 months to 24 months. Besides, it has actually additionally transformed the nodal firm for performing public auctions of these projects from Solar Energy Corporation of India (SECI) to the Indian Renewable Energy Development Agency (IREDA).

Moreover, the federal government notice likewise specified that the use cost would certainly not be greater than Rs 2.8 each, which will be unique to any other 3rd party costs like wheeling as well as transmission fees and also losses, factor of links costs and also losses, cross-subsidy additional charge, state lots send off centre/regional tons send off centre fees, etc as might apply.

Currently, the interested prospective buyers would certainly need to bid listed below Rs 2.8 each under the plan for solar projects.

In addition, currently IREDA will certainly be turned over for carrying out bidding process among federal government manufacturers for allotment of the solar project under the plan with stability void financing (VGF) as a quote specification to choose project supporter.

It additionally included that the VGF of Rs 70 lakh per MW (capability) can be utilized by federal government manufacturers as their equity in solar projects being established by them under the schemer.

The changes additionally supply that these manufacturers would certainly be qualified for VGF under this system along with various other solar park plans likewise.

On the moment duration for execution of the project, it states that the projects with as much as 500 MW ability would certainly be carried out within 24 months from the day of the letter of honor. Nonetheless, for over 500 MW ability, the project ability as much as 500 MW would certainly be appointed within 24 months from the day of the letter of honor as well as equilibrium ability to be appointed in the following 6 months.