Govt asks state-run firms to pay $1 bn dues to green power discoms: Report
India has asked state lenders to provide over $1 billion to government power distribution companies to clear longstanding debts to green energy firms that could hinder further investment, three sources familiar with the plan said on Tuesday.
The companies owe solar and wind power generators including Goldman Sachs-backed ReNew Power and Softbank-backed SB Energy over Rs 9,700 crore ($1.35 billion), according to the Central Electricity Authority, an arm of the federal power ministry.
Adding to the problems of the power generators, a new government in Andhra Pradesh state – which owes renewable energy firms more than any other state – wants to renegotiate its contracts, saying the prices it pays are inflated.
