India grants five month extension to renewable project completion

NEW DELHI (Reuters) - India has granted five month extension to Aug. 24 to all renewable enegry 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 Friday. '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 August 15, 2020 01:07:48 IST
India grants five month extension to renewable project completion

India grants five month extension to renewable project completion

NEW DELHI (Reuters) - India has granted five month extension to Aug. 24 to all renewable enegry 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 Friday.

"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.

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

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 <9984.T>-backed SB Energy, a banking source told Reuters in February.

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

(Reporting by Nidhi Verma, editing by Louise Heavens)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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