Payment risk resurfaces via discoms for wind projects: Crisil

Payment risk from discoms has resurfaced for wind power projects with four key states — Madhya Pradesh, Maharashtra, Rajasthan and Andhra Pradesh — that act as a counterparty to around 40% of the overall wind capacity toting up dues of ₹5,450 crore to 156 renewable projects.

That is 50% increase in the dues year-on-year, according to global analytics company Crisil. Wind power projects constituting nearly three-fourth of the total private renewable (wind and solar) capacity of these four states have borne a larger share of the payment delays.

The reason being bulk of these are old projects with high tariffs of over ₹4.5 per unit handed out under the earlier FIT3 regime. These tariffs are higher than the average power purchase prices of these states.