India mulls alternatives to bank guarantees for PV projects

The National Solar Energy Federation of India welcomed the move and asked the Indian government to extend benefits to existing contracts, in order to help PV developers meet their working capital requirements.

From pv magazine India

India’s Ministry of New and Renewable Energy (MNRE) is exploring new alternatives to earnest money deposits and performance bank guarantees for prospective bidders in solar auctions, in order to make it easier for developers to build PV projects.

The MNRE has sought feedback from Solar Energy Corp. of India (SECI) and NTPC India, which act as nodal agencies for the auctions.

For the full story, please visit our pv magazine India website.

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