Guarantee of 14 companies under solar mission encashed

NVVN recovers Rs 28 crore from erring firms. Acting tough on companies that did not commission solar power projects on time, NTPC Vidyut Vyapar Nigam (NVVN) Limited has encashed a part of bank guarantee of 14 of them. The companies were awarded projects under batch one of the first phase of Jawaharlal Nehru National Solar Mission (JNNSM). The last date of commissioning was January 9. About Rs 28 crores have been encashed from these firms located in Rajasthan, Odisha, Andhra Pradesh, Karnataka and Tamil Nadu. Of the 14 firms Lanco Infratech Limited is the engineering, procurement and construction (EPC) contractor of three of them–DDE Renewable Energy Limited, Electromech Maritech Pvt Limited and Finehope Allied Energy Private Limited. A recent investigation by New Delhi-based non-profit Centre for Science and Environment showed that Lanco Infratech floated front companies to win seven JNNSM projects including the above three.

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