Electricity payment default to India solar developers facing financial problems

Solar photovoltaic net news: according to Indian media reports, India photovoltaic market will continue to experience long-term challenges, and don't see any possible solution. Since July 2018, the southern trent Gunnar state solar developers are waiting for the $300 million worth of electricity payment list. As many as 200 project developers are affected, the total capacity of 3. 6000 megawatts.

according to the project development agreement, these costs will be for trent Gunnar state power company ( Telangana状态传播公司) To pay, the company has signed a power purchase agreement with the developers.

from the current perspective, the power purchase agreement is signed on the basis of high tax rate, around 5. 17 rupees per kilowatt hour - 6. Between 90 rupees per kilowatt-hour, and tax rates in the recent bidding quotation is about 2. 60 - 2. 80 rupees per kilowatt-hour.

due to the pressure of traditional power suppliers and the state government's financial support, rarely transmission company failed to pay the solar developers. And to defer to solar developers not only poses a serious financial risk, and the indirect effects far beyond the solar market itself.

according to trent Gunnar solar developers association of data, some project developers have a loan to set up the project, now is working to repay debts on time. According to the regulation of the reserve bank of India, for three consecutive months delayed payments may lead to the assets are classified as & other; Bad assets & throughout; ； Such defaulters credit rating was downgraded, lead to the direct financial impact across the market.

solar power combination in among the trent Gunnar has made a great contribution, which is one of the main sources of electricity in the state, the power proportion accounted for about a third of its total capacity. In terms of energy consumption, solar power accounts for more than 12% of its consumption in the past few days, the country is only 3. 5 - 3. 7%.

trent Gunnar state government obviously need to take a positive approach to clear solar developers of all pending tax, because mass default consequences of these developers could promote the solar power sector into a death spiral.

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