New Delhi: India's power regulator has allowed clean energy developers to pay more to keep their grid connectivity after missing project deadlines, instead of losing their access to the transmission network.
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Here are some details:
* Power producers can get extra time instead of automatically losing their grid connectivity rights, the Central Electricity Regulatory Commission said in an order over the weekend.
* Producers will have to pay 1,000 Indian rupees ($10.48) per megawatt per day to obtain extra time for land and financing requirements and 3,000 rupees per MW per day for delays in starting commercial operations.
* The move comes after several companies approached the regulator seeking more time for projects that were delayed but still under development as India's grid planning authority started serving disconnection notices.
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* Grid connectivity is a limited resource and projects holding grid capacity without making progress can prevent others from using it, the regulator said.
* Several clean energy projects have been stalled in India because of a lack of transmission infrastructure.
* Companies can get up to three additional months to complete land requirements, six months to secure financing and as much as 12 months to commission projects, the regulator said.
* Those that still fail to meet the deadlines risk losing their grid connectivity and associated bank guarantees.
* India is looking to add about 500 gigawatts of non-fossil fuel based power from about 300 GW at present.
