SECI paid Rs 440 crore to solar & wind developers in June

• The payment makes 63 percent of the total payout made by SECI in the month

• Payments towards Goods and Services Tax (GST) and Safeguard Duty (SGD) claims totalled nearly Rs 12 crore, data sourced from SECI showed

New Delhi: State-run Solar Energy Corporation of India Limited (SECI) has disbursed Rs 440 crore to solar and wind power developers in June and the payment makes 63 percent of the total payout made by SECI in the month. In total, SECI disbursed payments of Rs 697 crore in the month of June. Payments towards Goods and Services Tax (GST) and Safeguard Duty (SGD) claims totalled nearly Rs 12 crore, data sourced from SECI showed. 

While Rs 2.13 crore was paid towards settling GST claims by solar power developers in line with the Central Electricity Regulatory Commission's orders, Rs 1.78 crore was disbursed to RE developers for GST claims under the annuity method and Rs 8.09 crore was paid towards SGD claims.

SECI paid Rs 178 crore towards subsidy reimbursements

The state-run organisation also paid Rs 178 crore in subsidy reimbursements. The subsidies were paid to Singareni Collieries Company Limited, NTPC Limited, Maharashtra RESCO Rooftop Solar Private Limited, and Suryam International Private Limited, among others. 

The private RE power producers who received the biggest chunk of payments towards GST and SGD settlements include Azure Power India Private Limited, ReNew Solar Power Private Limited, Fermi Solar Private Limited (promoted by Avaada Energy), and Clean Sustainable Energy Private Limited.

The backdrop

In May, SECI had disbursed Rs 1.73 crore to solar and wind developers. The improvement in payouts in the month of June comes as lockdown restrictions were eased significantly across the country. 

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