Maharashtra Energy Development Agency has collectively fined Maharashtra State Electricity Distribution Co. Ltd. (MSEDCL), Reliance Power, BEST and MPECS Rs. 485.85 crore, for not generating enough energy through non-conventional means. The Renewable Purchase Specification (RSP) policy makes it mandatory for power generation companies to generate 4% of their output from renewable sources.
According to the RSP policy, Rs. 5 has to be forfeited for each unit of shortfall in 2007-08. Based upon the shortfalls, R-Power is liable to pay a fine of Rs. 183.63 core, MSEDCL @ Rs. 199.77 crore and BEST @ Rs. 90.422 crore.
The companies have appealed to the Maharashtra Electricity Regulatory Commission (MERC), as they cliam that they could not meet the targets as alternate energy projects have long gestation period. Earlier, MERC had also acknowledged that there was a short supply of power through renewable sources and would consider waiving the penalties.
Meanwhil, R-Power announced that it has several renewable energy projects in the pipeline, and BEST is also looking at outsourcing its renewable energy projects to a specialist company.
According to the RSP policy, Rs. 5 has to be forfeited for each unit of shortfall in 2007-08. Based upon the shortfalls, R-Power is liable to pay a fine of Rs. 183.63 core, MSEDCL @ Rs. 199.77 crore and BEST @ Rs. 90.422 crore.
The companies have appealed to the Maharashtra Electricity Regulatory Commission (MERC), as they cliam that they could not meet the targets as alternate energy projects have long gestation period. Earlier, MERC had also acknowledged that there was a short supply of power through renewable sources and would consider waiving the penalties.
Meanwhil, R-Power announced that it has several renewable energy projects in the pipeline, and BEST is also looking at outsourcing its renewable energy projects to a specialist company.
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