Daily News Wrap-Up: CERC Grants ₹20 Million Compensation to Solar Developer
Northern Railway floats tenders for 2.79 MW solar projects
February 7, 2025
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The Central Electricity Regulatory Commission (CERC) declared a hike in Goods and Services Tax (GST) from 5% to 12% to 18% as a change in law event. It allowed Beempow Energy, backed by O2 Power, to seek compensation. Beempow can receive compensation up to ₹20 million (~$229,700), which will be paid at a discount of 9.12% for 15 years. CERC also allowed carrying costs for the period against which Beempow paid the higher GST.