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The Ministry of Power has relaxed the project execution deadline for solar energy projects that have been bid out under tariff-based reverse auctions.
The relaxations have been offered under the amendment to the guidelines for tariff-based competitive bidding process for procurement of power from grid-connected solar PV power projects.
So lar power generators
Solar power generators will now have to commission projects above 250 MW within 2 years from the date of signing a power purchase agreement (PPA) with the procurer. There is also a relaxation of one year for the project developer under these provisions if there is a delay in handing over of land, usually acquired by the State Government.
The earlier deadline for commissioning projects was 15 months with a relaxation of one year for land acquisition delays.
The deadline for commissioning projects within solar parks has also been relaxed from 13 months to 21 months from the date of signing the PPA. Solar power projects will also have to achieve financial closure within 12 months against the earlier deadline of 7 months from the date of signing of PPA.
Land acquisition
The deadline for land acquisition has been relaxed too. According to the notified amendment, the transfer of land for the solar power project is to be completed within a year from the PPA signing date. The earlier deadline was seven months for the same.
States are however allowed to fix stricter timelines for the projects they bid out, the amendment noted.
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