{"id":342070,"date":"2020-03-16T12:10:42","date_gmt":"2020-03-16T06:40:42","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=342070"},"modified":"2020-03-16T14:18:53","modified_gmt":"2020-03-16T08:48:53","slug":"now-re-developers-letter-of-comfort-from-pfc-rec-ireda-at-par-with-bank-guarantee","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/now-re-developers-letter-of-comfort-from-pfc-rec-ireda-at-par-with-bank-guarantee\/","title":{"rendered":"Now RE developers&#8217; letter of comfort from PFC, REC, IREDA at par with bank guarantee"},"content":{"rendered":"<p>New Delhi: To improve business environment for clean energy projects and attract investments, the government has decided to treat letter of comfort (undertaking) issued by state-run shadow banking firms PFC, REC and IREDA at par with bank guarantees. Developers need bank guarantees for placing bids for clean energy projects offered by nodal agencies like Solar Energy Corporation of India (SECI) and state-run power giant NTPC.<\/p>\n<p>Developers get bank guarantee on the basis of letter of comfort issued by financial institutions like Power Finance Corporation (PFC), REC and Indian Renewable Energy Development Agency Limited (IREDA).<\/p>\n<p>Now treating letter of comfort issued by PFC, REC and IREDA would reduce procedural delay to seek bank guarantee for bidding for clean energy projects.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: To improve business environment for clean energy projects and attract investments, the government has decided to treat letter of comfort (undertaking) issued by state-run shadow banking firms PFC, REC and IREDA at par with bank guarantees. Developers need bank guarantees for placing bids for clean energy projects offered by nodal agencies like Solar Energy Corporation of India (SECI) and state-run power giant NTPC. Developers get bank guarantee on the basis of letter of comfort issued by financial institutions like Power Finance Corporation (PFC), REC and Indian Renewable Energy Development Agency Limited (IREDA). Now treating letter of comfort issued [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,239,136],"tags":[],"class_list":["post-342070","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/342070","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=342070"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/342070\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=342070"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=342070"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=342070"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}