Renewable energy firms missing deadlines to be blacklisted for 3-5 years

Renewable energy companies that fail to meet the commissioning date of projects awarded by central government agencies will be blacklisted from future government tenders.

In an official circular, the Union Ministry of New and Renewable Energy (MNRE) said that bank guarantees will be encashed and project developers blacklisted if the project is not constructed up until its due date.

“If any renewable energy project is not completed within the prescribed date of completion, its bank guarantee should be encashed and the developer blacklisted after asking him to show cause. The blacklisting will be for a period of three to five years. These are in accordance with the general financial rules of the government and apply to all tenders/bids,” read the notice, reviewed by Business Standard.