Full bank guarantees of three solar companies encashed

The companies missed the last deadline of March 9 to commission solar power plants under national solar mission. The bank guarantees of three companies, commissioned to install solar power plants under the national solar mission have been encashed. The companies failed to commission the power plants on time. The last date of commissioning was March 9. In its monthly assessment the NTPC National Vidyut Vyapar Nigam (NVVN), the power trading arm of NTPC, found that four companies have been unable to commission their five MW solar photovoltaic power plants even after passing the third and last deadline of March 9. These firms are CCCL Infrastructure Limited, Rithwik Projects Private Limited, Karnataka Power Corporation Limited and Camelot Enterprises Pvt Limited. These firms are setting up plants in Tamil Nadu, Andhra Pradesh, Maharashtra and Rajasthan respectively.

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