Solar projects without financing will be cancelled

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The funding deadline for the first batch of solar projects under the Indian solar mission has now passed. The projects which didn’t achieve financial closure will be cancelled. Furthermore, a spokesperson at NTPC Vidyut Vyapar Nigam Ltd (NVVN) said that the capacity for the next batch of projects will be increased based on the size of the cancelled projects. For example, if 50 MW worth of projects get cancelled then the next batch capacity will be 300 MW plus 50 MW.
According to NVVN, the project developers that could not get their projects financed will still be allowed to bid again and will not face any consequences. Inexperienced developers can continue to delay and hold up projects though, unless the policy is changed to include stringent qualification requirements. MNRE recently held a meeting to review policy suggestions from the industry. Based on the results of this meeting, new policy guidelines will be announced soon

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