Giving relief to solar developers amid the Covid-19 crisis, the Ministry of New and Renewable Energy (MNRE), in its latest notification, has stated that the renewable energy projects having their commissioning dates on or after April 1, 2021, can claim extension owing to the second surge of the Covid-19 pandemic.
MNRE has, however, cautioned developers that the time extension should not be used as a ground for the termination of the power purchase agreement (PPA) or claiming any increase in the project cost, including interest during construction or upward revision of tariff.
Also, the Ministry clarified that on receipt of an application for the time extension, the implementing agency would not initiate any coercive action on the project to recover penalty on delayed commissioning until the extended time frame is decided upon.
The Ministry took this decision based on the resurgence of the Covid-19 pandemic and the lockdown measures being put in place by several state governments in localized fashions to contain the pandemic.
This is a Syndicate News Feed; edited by Clean-Future Team