NSEFI PRESSES FOR URGENT RELEASE OF FUNDS TO RENEWABLE ENERGY DEVELOPERS

Highlights
• NSEFI brought to the notice the problems of delayed payments faced by renewable energy companies to New Delhi in a letter addressed to Union Minister of State, RK Singh.
• Andhra Pradesh Government had requested PFC and REC to sanction funds in form of an additional loan to the State under Tranche-I for repayment to renewable energy developers stated NSEFI


National Solar Energy Federation of India (NSEFI) on Monday requested the Government of India to ensure urgent release of funds by PFC and REC under the Prime Minister Narendra Modi’s Atmanirbhar Bharat Abhiyan scheme towards renewable energy developers having PPAs with Andhra Pradesh discoms.
NSEFI brought to the notice the problems of delayed payments faced by renewable energy companies to New Delhi in a letter addressed to Union Minister of State, RK Singh.
Subrahmanyam Pulipaka, CEO of NSEFI, sought the relief under the decision taken by the central government to infuse liquidity of ₹90,000 crore via Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) to all States/UTs in order assist discoms in repayment of their liabilities as a part of the Atmanirbhar Bharat Abhiyan.
Andhra Pradesh Government had requested PFC and REC to sanction funds in form of an additional loan to the State under Tranche-I for repayment to renewable energy developers stated NSEFI. Though this is pending for last few months and renewable energy developers haven’t received a single penny since the month of April.

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