New Delhi,Grappling with land acquisition and other regulatory issues, Solar Power Developers Association (SPDA) has demanded that the time frame for implementing solar projects be increased by nine months.
SPDA Director General Shekhar Dutt highlighted the issue in a letter to the ministry of renewable energy.
The issue assumes significance in view of government’s plan to auction 60 GW of solar projects by March 2020, to meet the target of having 100 GW of solar capacity by 2022.
As per the letter, developers have been unable to meet the existing deadline for implementing solar projects as they face delay in land acquisition and regulatory approvals in land acquisition/mutation.
Besides, there are delays in supply of equipment mainly electrical systems and in construction of transmission lines due to ‘Right of Way’ issues.
At present, developers are required to do financial closure or tie-up of fund for the project within seven months from the date of signing power purchase agreement (PPA).
Similarly, the time frame for commissioning the project from date of signing PPA is 13 months for projects of up to 250MW and 15 months for projects above 250 MW capacity.
SPDA has proposed that developers be given minimum 21 months for execution of projects up to 250 MW with minimum 12 months for meeting financial closure conditions from signing of PPAs.
For other category, they have sought 24 months for execution of projects with minimum 15 months for meeting financial closure conditions. KKS KKS ANU ANU
Get latest news & live updates on the go on your pc with News App. Download The Times of India news app for your device. Read more Business news in English and other languages.
Source : PTI
