Solar Developer Loses Bank Guarantee, to Pay Liquidated Damages For Delay

The developer had not started work and had furnished a fake performance bank guarantee

February 19, 2021

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The Tamil Nadu Electricity Regulatory Commission (TNERC) has rejected a developer’s plea to extend the commissioning date of a 100 MW solar project in the state. It has also allowed the state distribution company (DISCOM) to encash its performance bank guarantee (PBG) towards damages.

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Nithin Thomas

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Solar Developer Loses Bank Guarantee, to Pay Liquidated Damages For Delay

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