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01 April, 2020 00:14 IST
Renewable energy industry confused due to lack of advisory on coronavirus: FICCI
Source: IRIS | 20 Mar, 2020, 11.06PM
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  A lack of communication from the Ministry of New and Renewable Energy (MNRE), Solar Energy Corporation (SECI) and states related to applicability of Force Majeure on business disruption caused by the spread of Coronavirus is creating confusion among the renewable energy companies, according to Federation of Indian Chambers of Commerce and Industry (FICCI).

''The Finance Ministry has issued a circular stating the current situation of COVID-19 should be treated as Force Majeure for solar projects. However, MNRE, SECI and state governments have not yet issued any circular with respect to the same. This is creating confusion in the renewable energy industry,'' the industry chamber said in a note on Impact of COVID-19 on Indian Economy.

It added the Renewable Energy Industry is a capital-intensive industry where availability of liquidity is important and the current outbreak of coronavirus has affected the liquidity of the renewable energy companies due to the impact on supply chain.



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