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Wednesday, September 30, 2020

Under construction RE projects during lockdown get five-month window

Developers of such projects may also pass on the benefits of such time extensions to other stakeholders down the value chain, according to the notification.

By: ENS Economic Bureau | New Delhi | August 14, 2020 2:15:35 am
The extension will apply from March 25 to August 24, 2020, according to a notification by the Ministry. (File)

The Ministry of New and Renewable Energy (MNRE) on Thursday provided a blanket five-month extension to renewable energy projects that were under development at the time of the nationwide Covid-19 lockdown.

The extension will apply from March 25 to August 24, 2020, according to a notification by the Ministry. “This blanket extension, if invoked by the RE developers, will be given without case to case examination and no documents/evidence will be asked for such an extension,” stated the notification. “The timelines for intermediate milestones of a project may also be extended within the extended time provided for commissioning,” it stated.

Developers of such projects may also pass on the benefits of such time extensions to other stakeholders down the value chain, as per the notification.

The MNRE said all of its renewable energy implementing agencies will treat the lockdown due to the pandemic as ‘force majeure’—extraordinary events or circumstances beyond human control that frees both parties from contractual liabilities when they are prevented by such events from fulfilling their obligations.

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