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New Delhi: The Ministry of New and Renewable Energy has asked renewable energy implementing agencies (REIAs) to undertake due diligence of projects having letter of awards where power sale agreements (PSAs) have not been signed with distribution companies (discoms) and to consider for cancellations only those projects that have minimal or no prospects. There will be no blanket scrapping of the bids, the ministry said on Tuesday. As of September, there was about 43.9 GW of capacity where letter of awards has been issued, but PSAs with end procurers remain unsigned, the ministry said in a statement. Even after the identification of such projects, the cancellations will be undertaken only after all feasible and viable options for executing the PSAs and corresponding power purchase agreements (PPAs) have been thoroughly explored, the ministry said. Such cancellations are expected to be in a phased manner. The REIAs - NTPC, NHPC, SJVN and SECI - enable bidding or renewable energy projects with assured power purchase agreements and facilitate power sale agreements with distribution companies and other procurers. Live Events"REIAs have been advised to carry out due diligence by reviewing and categorizing such cases based on the likelihood of securing PSAs with end procurers," it said. Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onntpcsjvnRenewable Energy ProjectsMinistry of New and Renewable EnergyDue Diligence in Renewable ProjectsScrapping of BidsRenewable Energy Implementing AgenciesNTPCSJVNEnergy Sector Updates (Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onntpcsjvnRenewable Energy ProjectsMinistry of New and Renewable EnergyDue Diligence in Renewable ProjectsScrapping of BidsRenewable Energy Implementing AgenciesNTPCSJVNEnergy Sector Updates(Catch all the Business News, Breaking News and Latest News Updates on The Economic Times.) Subscribe to The Economic Times Prime and read the ET ePaper online....moreless
