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Government’s Extension of Timelines for Project Execution in Solar Park comes as a Big Relief to Developers

<p><span style="font-size:9.0pt">Government has amended completive bidding guidelines for solar park projects above 250 MW capacities for lowering tariff of power generated from Solar Parks. As per amendments, deadline for commissioning solar projects in solar parks has been extended from 13 months to 21 months from the date of signing PPA and have also extended timelines for land acquisition and attaining financial closure in terms of PPA from 7 months to 1 year from the date of signing PPA. </span></p> <p><span style="font-size:9pt">Government has made a wise decision finding a middle path for matching completion of solar projects with commissioning of transmission evacuation system for the project. The said relaxation will also allow developers more time to source equipment and help reduce the cost of setting projects up, which is followed internationally.</span></p> <p><span style="font-family:calibri,sans-serif; font-size:9pt">Generation cost from solar project is likely to drop in next auctions in consideration of changed china&#39;s policy and time relaxation provided for solar projects.</span></p>