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The Central Electricity Regulatory Commission (CERC) has passed an order that will compensate
four developers for relief of their protective obligations on the grounds of changing the terms of the law.
In other words, the import safeguard tax compensation applied by the four developers has been approved
.
The four developers include ReNew Solar Power, Phelan Energy India RJ Pvt.
Limited, Clean Sustainable Energy Pvt Ltd and Mahoba Solar (UP) Pvt Limited
.
The four companies have previously filed a petition against Solar Energy India and related companies seeking compensation for safeguard duty
on imported solar cells and modules.
"If certain solar cells and modules are imported as part of O&M before July 30, 2020, the levy of this protection tax may also lead to an increase
in non-recurring spending," the petition mentions.
”
The four petitioners demanded a one-off payment of INR 739.
5 million (US$10.
5 million) to the petitioners due to additional safeguard duty and IGST levy on imported solar cells, as well as interest
.
They have asked the Central Electricity Authority of India to instruct the Solar Energy Corporation of India to pay within 60 days from the date the petitioner files the claim or impose a late fee
under the PPA regulations.
Currently, the Central Electricity Authority has instructed SECI to reconcile the documents
relating to the claim within 15 days of the petitioner's submission.
The order also suggests that the petitioner and SECI could negotiate a mechanism to pay compensation on an annuity-based basis for a period not exceeding the term of the PPA at the rate of electricity agreed in the PPA
.
Mercom reported in September 2019 that the Karnataka Electricity Regulatory Commission (KERC) said that the introduction of safeguard duty on ACME Solar's project in Karnataka would be considered a "change in the law"
.
The Maharashtra Electricity Regulatory Commission also reiterated in its February order that the safeguard duty is an event of a change in the law, therefore, additional spending and other impacts
will be considered.
The Central Electricity Regulatory Commission (CERC) has passed an order that will compensate
four developers for relief of their protective obligations on the grounds of changing the terms of the law.
In other words, the import safeguard tax compensation applied by the four developers has been approved
.
The four developers include ReNew Solar Power, Phelan Energy India RJ Pvt.
Limited, Clean Sustainable Energy Pvt Ltd and Mahoba Solar (UP) Pvt Limited
.
The four companies have previously filed a petition against Solar Energy India and related companies seeking compensation for safeguard duty
on imported solar cells and modules.
"If certain solar cells and modules are imported as part of O&M before July 30, 2020, the levy of this protection tax may also lead to an increase
in non-recurring spending," the petition mentions.
”
The four petitioners demanded a one-off payment of INR 739.
5 million (US$10.
5 million) to the petitioners due to additional safeguard duty and IGST levy on imported solar cells, as well as interest
.
They have asked the Central Electricity Authority of India to instruct the Solar Energy Corporation of India to pay within 60 days from the date the petitioner files the claim or impose a late fee
under the PPA regulations.
Currently, the Central Electricity Authority has instructed SECI to reconcile the documents
relating to the claim within 15 days of the petitioner's submission.
The order also suggests that the petitioner and SECI could negotiate a mechanism to pay compensation on an annuity-based basis for a period not exceeding the term of the PPA at the rate of electricity agreed in the PPA
.
Mercom reported in September 2019 that the Karnataka Electricity Regulatory Commission (KERC) said that the introduction of safeguard duty on ACME Solar's project in Karnataka would be considered a "change in the law"
.
The Maharashtra Electricity Regulatory Commission also reiterated in its February order that the safeguard duty is an event of a change in the law, therefore, additional spending and other impacts
will be considered.
