The MNRE reduces commissioning and financial closure timelines for solar power projects

The Ministry of New and Renewable Energy (MNRE) has reduced the commissioning and financial closure timelines of solar power projects in an effort to facilitate the timely achievement of the country’s target of 100 GW of solar capacity by 2022. As per the amendment, the solar photovoltaic (PV) projects inside a solar park will have a commissioning timeline of 15 months from the date of signing PPA; nine months will be provided for achieving financial closure and six months for the construction of the project. The solar PV projects outside a solar park will have a commissioning timeframe of 18 months from the date of signing of the PPA; 12 months for achieving financial closure and six months for the construction of the project. A minimum of 22 days will be allowed between the issuance of RfS bids and the last date of bid submission. Besides, the Solar Power Developers Association has requested MNRE to allow 24 months for commissioning projects connected to the CTU, as a substantial time is required for the process of getting connectivity from the CTU.

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