NEW DELHI : In a huge relief to green energy developers across the country, the Union government has decided to extend the deadline for completion of their projects, considering the difficulties arising from the second wave of coronavirus pandemic raging across India, said two government officials aware of the development.
This assumes significance, given that the contracts, or power purchase agreements (PPAs), signed by developers specify strict commissioning deadlines and a failure to meet them can result in fines and encashment of their bank guarantees.
This decision by the ministry of new and renewable energy (MNRE) to grant extension to those projects having a scheduled commissioning date (SCD) on or after 1 April 2021,
