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PGCIL Asked to Refund Bank Guarantee After Revoking Connectivity to Solar Projects

PGCIL had revoked Stage-II connectivity after the termination of PPAs

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The Central Electricity Regulatory Commission (CERC), in a recent order, ruled that ₹5 million (~$66,299) of the connectivity bank guarantee for each of the two solar projects of 250 MW capacity at Anantapur in Andhra Pradesh and Tuticorin in Tamil Nadu should be forfeited. The balance amount of ₹45 million (~$596,692) for each project should be returned to the solar developer by the Power Grid Corporation of India Limited (PGCIL).

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