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Last Updated : Aug 14, 2020 10:10 PM IST | Source: Reuters

India grants five month extension to renewable project completion

'This blanket extension, if invoked by the RE (renewable energy) developers, will be given without case to case examination and no documents/evidence will be asked for such extension,' said the statement.

Reuters
Representative image
Representative image

India has granted five month extension to August 24 to all renewable energy projects that were under implementation on the March 25, when the country went under nearly a seven week complete lockdown, a government statement said on August 14.

"This blanket extension, if invoked by the RE (renewable energy) developers, will be given without case to case examination and no documents/evidence will be asked for such extension," said the statement.

Previously the government had asked developers to produce evidence that delays in meeting completion deadlines are triggered by disruption of the supply chains due to due to spread of coronavirus in China or any other country.

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Some of the companies who had won projects between July and August 2018 and had a July 2020 deadline include Aditya Birla Renewables and SoftBank -backed SB Energy, a banking source told Reuters in February.

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The timelines for intermediate milestones of a project may also be extended within the extended time provided for commissioning, it said.

 
First Published on Aug 14, 2020 09:50 pm
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