TNERC rejects plea by two solar developers for extension of project deadline
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Raasi Green Earth Energy Private Limited and VSR Solar Power Private Limited had sought extension of the commencing date by 15 months and 18 months respectively.
The Tamil Nadu Electricity Regulatory Commission (TNERC) has rejected separate pleas by two solar power developers for extension of commissioning date for their solar initiatives.
Raasi Green Earth Energy Private Limited and VSR Solar Power Private Limited had sought extension of the commencing date by 15 months and 18 months respectively.
Safeguard obligation
They cited the levy of safeguard obligation by the Centre in 2018 on imports of solar modules from China, Taiwan and Malaysia as a change of legislation and a drive majeure occasion. In 2017, Tangedco had floated a young for procuring 1500 MW of solar energy from the developers for establishing solar energy vegetation underneath the reverse bidding course of (the bottom bidder emerges because the winner). The higher restrict fastened within the tender was ₹4 per unit.
Raasi Green emerged as a profitable bidder at ₹3.47 per unit for constructing a capability of 100 MW. VSR Solar Power was additionally half of the tender course of and was to construct a 50 MW project at ₹3.47 per unit.
Through the tender course of in 2017, Tangedco had finalised 16 developers for procurement of 1500 MW of solar energy at ₹3.47 per unit on a long run foundation and subsequently signed the facility buy agreements with them.
As per the settlement, Raasi’s 100 MW project ought to have come up in Kavanoor village, Paramakudi taluk, Ramanathapuram district by September 26, 2019, whereas VSR Solar’s 50 MW project at Vilathikulam, Thoothukudi, ought to have been commissioned by March 21, 2019.
Levy elevated
Both firms stated the levy of safeguard obligation had elevated their project price by 17% and sought an extension.
The TNERC rejected their pleas stating that the clause within the energy buy agreements doesn’t embody both the levy of safeguard obligation in particular nor change in legislation on the whole as one of the drive majeure occasions.
It additionally famous that of the13 developers, who had executed the facility buy agreements together with the two corporations, none of them took shelter underneath this clause and all of them have executed their initiatives.
The two initiatives haven’t been commissioned inside 34 months from the date of signing the facility buy agreements. As per the phrases, the agreements stand robotically terminated and Tangedco is entitled to assert damages to the extent of non-commissioning of the initiatives, TNERC dominated.
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