DISCOMs Mandated to Maintain Letter of Credit as Payment Security Mechanism to Buy Power
The order puts in place strict guidelines for national and regional load despatch centers to despatch power to DISCOMs only in case of the availability of appropriate letter of credit
June 29, 2019
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In a bold move, RK Singh, Union Minister of State for Power and New & Renewable Energy has announced the approval of a proposal to make it mandatory for distribution licensees to open and maintain adequate Letter of Credit (LC) as payment security mechanism under power purchase agreements.
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