Over a year after it had won a 600-megawatt solar project in Rajasthan at a historically low tariff bid of Rs 2.44 per unit, ACME Solar has terminated the project citing ‘force majeure’ events like the ongoing COVID-19 lockdown. Experts suggest similar cases may emerge.
The solar power developer has approached the Central Electricity Regulatory Commission (CERC) to restrain the Solar Energy Corporation of India (SECI) and Power Grid Corporation of India (PGCIL) from invoking bank guarantees and letters of comfort that it had submitted for the project.
