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Solar PV Market In India Outlook Update Q3 2020

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Report Summary MNRE provides five-month extension for renewable energy projects hit by COVID 19 & ISTS wavier extension for solar projects until June 2023

Solar PV Market In India Outlook Update Q3 2020

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    MNRE provides a five-month extension for renewable energy projects hit by COVID-19 & ISTS waiver extension for solar projects until June 2023  – brings much-needed respite for the solar industry

    The ministry of new and renewable energy (MNRE) has granted an extension in the scheduled commissioning date for renewable energy projects by five months from 25 March to 24 August 2020 to overcome the disruption caused by the nationwide lockdown due to the coronavirus outbreak. The government has been ever supportive in motivating the solar segment to grow in the country by providing a favorable regulatory and policy atmosphere and steps like these will surely help the solar developers who have been hit due to the lockdown to commission projects without the stress of being penalized and also will provide time to the laborers to return back to project sites. Also, the government’s step to wave off inter-state transmission charges and losses for transmission of the electricity generated by power plants using solar and wind sources of energy, including solar-wind hybrid power plants with or without storage commissioned till 30th June 2023 has been met with relief by the industry, after COVID 19 had heavily hit renewable projects development.
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