Govt. Extends Deadline for Completion of Solar Power Projects

Earlier, the deadline for commissioning projects was 15 months with a relaxation of one year for land acquisition delays.

The solar power projects that have been bid out under the tariff-based reverse auctions are given extension in their deadlines by the Ministry of Power.

The relaxations have been offered under the amendment to the guidelines for the tariff-based competitive bidding process for procurement of power from grid-connected solar PV power projects.

From the date of signing a power purchase agreement (PPA), the solar power generators will have to commission projects above 250 MW within two years. Also, the relaxation of one year has been extended to the project developers if they delay in handing over of land, which otherwise is acquired by the government of the state.

Earlier, the deadline for commissioning projects was 15 months with a relaxation of one year for land acquisition delays.

The deadline for commissioning projects within solar parks has also been relaxed from 13 months to 21 months from the date of signing the PPA. Solar power projects will also have to achieve financial closure within 12 months against the earlier deadline of 7 months from the date of signing of PPA.

The deadline for land acquisition has been relaxed too. According to the notified amendment, the transfer of land for the solar power project is to be completed within a year from the PPA signing date. The earlier deadline was seven months for the same.

States are however allowed to fix stricter timelines for the projects they bid out, the amendment noted.

Source: Business Line