ACME Solar Holdings on Monday said that its arm ACME Aklera Power Technology has secured Rs 47.40 crore as “change in law compensation” for a 250-MW solar project in Rajasthan.
The ruling of the Rajasthan Electricity Regulatory Commission (RERC) for the project contracted with SECI is expected to benefit with an additional revenue of 3.5 per cent for 15 years, a company statement said.
The awarded amount includes “compensation towards imposition of basic customs duty on solar cells and modules, increase in GST from 5 per cent to 12 per cent and carrying cost”.
“The total amount is to be received through an annuity mechanism at a discount rate of 9 per cent over a period of 15 years, ensuring fair recovery of unforeseen regulatory cost increases and protecting project economics,” it said.
According to ACME Solar, the case sets a precedent for regulatory certainty and project development cost stability in the renewable energy industry.
“The RERC’s timely adjudication and directions
