No takers for 18-GW solar power projects
A clutch of under-construction solar projects with combined capacity of 18,000 MW is facing grim prospects with the state-run discoms developing cold feet on buying power from these projects, at tariffs discovered under auctions. The discoms’ reluctance to sign power supply agreements with these projects, with aggregate investments of Rs 90,000-Rs 1 lakh crore, is in view of the widening differential between the price of power from these projects and the much lower prices discovered under recent auctions.
While at least eight companies are hit by the discoms’ stance, Azure Power is the first to openly acknowledge it. “The Solar Energy Corporation of India (SECI) has informed us that so far there has not been adequate response from the state electricity discoms for SECI to be able to sign the PSAs at this stage even though we have a letter of award,” the company said in a statement last week.
