The Central Electricity Regulatory Commission (CERC) has granted approval to a request from ReNew Sun Waves (RSWPL) for compensation, both pre and post the commercial operation date, aimed at mitigating the financial repercussions of safeguard duty on solar cells or modules, along with the elevated customs duty on solar inverters.
The commission concluded that a 9 per cent discount rate and a 15-year annuity period are suitable for compensating change in law. The responsibility of Solar Energy Corporation of India Limited or distribution companies to make monthly annuity payments commences either 60 days after this order or the submission of claims, depending on the later occurrence. A late payment surcharge will be incurred for delays extending beyond the 60th day.
In October 2023, the CERC gave its approval for a levelised tariff of Rs 6.99 per unit for NLC India Limited’s 20 MW solar power facility, which includes a battery energy storage system. The project is situated in Dollygunj and Attam Pahad in the Andaman & Nicobar Islands.
In the same month, CERC granted permission to modify renewable energy certificate agreements, resulting in alterations to the trading dynamics at both the Indian Energy Exchange and Power Exchange India Limited.
