KERC penalises MegaSun Solar Tech for delayed solar project

In its latest order, the Karnataka Electricity Regulatory Commission (KERC) has directed MegaSun Solar Tech Private Limited to furnish liquidated damages of Rs 3 million to Gulbarga Electricity Supply Company Limited (GESCOM). The petitioner, MegaSun Solar is a special purpose vehicle (SPV) created by MicroSun Solar Tech for the development of a 3 MW solar project in the Gangavathi taluk of Koppal district in Karnataka. MegaSun was entitled to receive a tariff of Rs 5.94 per kWh for the energy supplied by it to GESCOM, for 25 years from the commercial operation date. However, the SPV failed to achieve commissioning by the stipulated deadline and later submitted before KERC that it should be given time until October 4, 2019, for commissioning the project. KERC, while allowing the time, has imposed a lower tariff of Rs 3.05 per kWh.

 

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