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CERC Rules in Favor of PGCIL as a Wind Developer Fails to Achieve Timely Financial Closure

The developer wanted to prevent PGCIL from encashing its bank guarantees

January 20, 2020

/ Nithin Thomas
/ Wind
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The Central Electricity Regulatory Commission (CERC) rejected a plea by Vaayu Renewable Energy Private Limited, a renewable energy developer, who filed a petition seeking for the commission to direct the Power Grid Corporation of India Limited (PGCIL) to refrain from encashing a bank guarantee for a project that could not achieve financial closure on time.

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Nithin Thomas

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