The floating photo voltaic mission on the Rihand dam, the place SECI, as a nodal company, had duly accomplished the public sale course of to reach at a worth of Rs 3.29 / unit, is anticipated to be additional delayed with the central regulator, the Central Electrical energy Regulatory Fee, rejecting the adoption of the tariff. advocacy. The mission has been broadly touted as India’s largest floating photo voltaic mission thus far.
The CERC’s rejection of moving into the matter, on what is mostly seen as a mere formality, is a shock to say the least.
The Rihand floating photo voltaic mission has been within the works since 2018, when SECI first launched the tender. ReNew Photo voltaic Energy Personal Restricted and Shapoorji Pallonji Infrastructure Capital Firm Personal Restricted turned the final profitable bidders after due course of, with the value of Rs 3.29 / unit. Pus SECI’s common 7-peas buying and selling margin. The mission was to be commissioned in 2021-2022.
The primary motive for CERC’s rejection was that the mission had failed the “composite system” check as a result of it included single-buyer gross sales (UPPCL) within the state the place it’s positioned. Which basically makes it an acceptable case for the state regulator, we presume. The CERC rejected the argument that each one petitioners had reached a consensus that the CERC is the fitting authority, as an alternative choosing a strict studying of the legislation and related statutes.
Rejection additionally means dangerous information for a further declare. That the petition for the adoption of the tariff was filed with a considerable delay which can have an effect on the power of the respondents to realize monetary shut and, subsequently, the commissioning schedule. Due to this fact, it was additionally requested that the SECI be directed to contemplate the Respondents’ request for an extension of the time restrict for the monetary shut and the anticipated date of the enterprise transaction.