The Ministry of New and Renewable Energy (MNRE) has amended the order related to the dispute resolution mechanism to resolve disputes between renewable energy developers and the Solar Energy Corporation of India (SECI)/NTPC Limited. Through the amendment, the ministry has clarified the clauses relating to the grant of time extension for the projects affected by unforeseeable circumstances. Earlier, the MNRE had stated that in the case of an extension of a time dispute, the fee payable would be 5 per cent of the performance bank guarantee for the project. Now, the MNRE has clarified that this amount cannot exceed Rs 10 million. Further, the MNRE’s dispute resolution committee has also been reconstituted.
COPYRIGHT © 2017-2022 | POWER LINE