A widespread reluctance among states to purchase renewable energy (RE) has led to a corruption case filed by the United States Attorney for the Eastern District of New York against Adani group and the New York Stock Exchange-listed Azure Power.
This issue dates back to 2019-2020, when the Solar Energy Corporation of India (SECI) issued record-high tenders worth 30 gigawatt (Gw).
SECI is an RE project-awarding and facilitating agency under the Ministry of New and Renewable Energy.
However, these projects failed to find buyers in any state. In 2021, according to data from the Central Electricity Authority (CEA), 20 Gw of solar projects were granted extensions due to the pandemic, which had delayed their power sale agreements (PSAs), while 8 Gw of solar projects tendered by SECI had no power purchase agreements (PPAs).
CEA, the technical arm ofthe Ministry of Power, released the first status report on RE projects in 2021. This paper had reviewed and reported in 2021.
This story is from the November 22, 2024 edition of Business Standard.
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This story is from the November 22, 2024 edition of Business Standard.
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