These delays are recurring, according to Sembcorp India CEO.
Bloomberg reported that Sembcorp Industries Ltd. said recurring payment delays by Indian electricity retailers are piling on costs to operators and are bad for the renewable power business it wants to build.
Payment delays risk “affecting development of the sector,” Sembcorp India Chief Executive Officer Vipul Tuli said in an interview in New Delhi. The local unit of the Singaporean conglomerate, which last month won an auction to supply wind power in India, already has $4 billion of energy assets in the country.
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