The Indian state of Madhya Pradesh plans to extend its guarantee to developers bidding for capacity in the 750MW Rewa Ultra Mega Solar Park, so that payments will be met by the government in the case of any default from the off-takers.
Wind power developers in India have been facing delayed payments from distribution companies of up to eight months at a time in various states, but solar developers have experienced only negligible delays in a couple of states, according to industry analysts.
India’s Ministry of New and Renewable Energy (MNRE) is about to send a revision of the Renewable Purchase Obligation (RPO) to the country’s Union Cabinet for approval.
