Renewable energy industry looks to Budget to offset lull

BENGALURU: A payment security mechanism to fix delayed payment from distribution companies in the upcoming union budget is something the the renewable energy industry is praying for to tackle the major problem plaguing the sector.

“The government has to do something about payment security. You can fundamentally improve the health of discoms. This could be done in the form of loans from Power Finance Corp and Rural Electrification Corp,” said Sumant Sinha, managing director of ReNew Power, India’s largest renewable energy IPP.