Coronavirus outbreak may impact 3GW Indian solar projects worth ₹16,000 crore
New Delhi: In what may impact India’ green energy trajectory, around 3 giga watt (GW) of solar projects, worth ₹16,000 crore, could be at risk of penalties for missing their project completion deadline if the coronavirus impact prolongs, according to CRISIL.
“As per the standard terms of power purchase agreements, non-adherence to completion timelines attracts penalties, including downward renegotiation of tariffs,” CRISIL said in a report on Monday.
Power purchase agreements signed by developers have strict commissioning deadlines and a failure to meet them can result in fines and encashment of bank guarantees.
