MNRE amends guidelines for solar power projects under VGF program

The Ministry of New and Renewable Energy (MNRE) has amended the guidelines for implementation of the viability gap funding (VGF) program for solar PV projects under National Solar Mission (Phase-II).

According to the new amendment, if there is a delay in the allotment of land for the project or connectivity by the government, the Solar Energy Corporation of India (SECI) can extend the time for the financial closure and commissioning date of the project, without any financial implications to the solar power developer (SPD), after recording due justifications for the same. However, in case of SECI being the SPD, then the extension will be given by the MNRE.

Earlier, in case of such delays, SECI could extend the time for financial closure and commissioning date by up to three months without any financial implications to the SPD.  While for extensions beyond three months, SECI was mandated to approach the MNRE.

These amendments will apply to over 2,000 MW of grid-connected solar photovoltaic (PV) projects under Batch-III of NSM (Phase-II).

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