While the Union Government is promising to extend all out support for the generation of green energy, release of dues for the green energy sector is delayed inordinately, giving rise to a tough time for the Odisha Green Energy Development Corporation Limited (GEDCOL).
The GEDCOL is producing solar energy in the State, however, the Ministry of New and Renewable Energy (MNRE) is delaying its payment, for which it has adversely affected financials of the corporation.
Energy Secretary and GEDCOL CMD Hemant Sharma has pointed out that as the State PSU is implementing new and renewable energy projects, however, non release of funds under Viability Gap Funding (VGF) and energy dues has put the organisation into serious fiscal strain.
Official sources say Sharma pointed out the MNRE that GEDCOL had participated in Jawaharlal Nehru National Solar Mission and set up a 20 Mega Watt (MW) solar project at Manamunda in Boudh district through Solar Energy Corporation of India (SECI), which is the nodal agency for monitoring the green energy project.
The solar project has been commissioned by June 2016 and the plant has already generated more than 58 Million Units by April, 2018.
However no funds are being released under Viability Gap Funding (VGF) for successful commissioning of the plant. The GEDCOL is to receive Rs 33.6 crore for VGF and Rs 32 crore for energy dues.
So in total GEDCOL was to receive Rs 65.6 crore from MNRE though time and again it has been brought to the notice of the highest authorities.
The GEDCOL has already accrued liability of Rs 50.39 crore loan from different sources and the EPC Developer and O and M provider Bharat Heavy Electrical Limited (BHEL) is required to receive payment.
The BHEL is to receive payment of Rs 44 crore towards material supply, O and M activities and labour payment.
However due to inordinate delay in release of VGF dues and energy dues by the MNRE, payment of BHEL has been affected, official sources said.
It is pertinent to mention that frequent labour unrests are being faced at site on account of non-payment of wages and any untoward law and order problem cannot be ruled out hereafter, pointed out a senior official.
While the GEDCOL has planned to set up several green energy projects in the State, delayed payment of VGF and energy dues has seriously impacted the programmes, sources said.
Source: dailypioneer
