India's New and Renewable Energy Ministry grants 4-month project extension
India's Ministry of New and Renewable Energy gave eligible renewable energy projects scheduled to be commissioned on or after 28 February a four-month extension to their scheduled commissioning dates, thanks to supply chain issues caused by the ongoing conflict in West Asia.
This move means developers won't face penalties or tariff cuts for missing deadlines, a relief for those scrambling to keep things on track.
Industry leaders urge extended ISTS waiver
Industry leaders appreciate the extension but say it's not enough.
With project costs may increase up to 20% due to the rise in raw material prices and implementation of the approved list of models and manufacturers (ALMM) for cells, they're urging the ministry of power, CTUIL and CERC to keep the ISTS waiver and connectivity in place for the extended period.
As India aims to reach 500GW of non-fossil capacity by 2030, more support is needed.