India issues guidelines for naming renewable energy implementing agency

The designation is effective for 5 years.

India has released the guidelines for designating a company as a renewable energy implementing agency (REIA).

In an advisory, the Ministry of Power said the applicant should have a valid Category-1 electricity trading licensee from the Central Commission. It should also have a net worth exceeding INR 500 crore and a long-term credit rating of at least A.

A company shall be designated as REIA for 5 years. This can be terminated by the Central Government if the party does not perform its duties, the ministry said.

In case of termination, the company remains responsible for discharging its duties towards the renewable energy developers and procurers as per bidding documents and the agreements until the tenure of such agreements.