The Maharashtra State Electricity Distribution Company (MSEDCL) has been instructed by The Windmill Owners Welfare Association of India ( MERC ) to pay INR41bn ( ₹5.7765 billion ) in dues to the state’s wind power generators. MERC had submitted a petition to MERC concerning outstanding payments and interest owed under various wind energy purchase agreements. MERC has two weeks to fulfil reconciliation and must submit a report on outstanding dues to avoid penal interest at 1.25% per month on the principal amount. MERC was responding to a petition filed by Windmill Owners Welfare Association of India (WOWAI). Settlements will continue into 2019 .
The Maharashtra State Electricity Distribution Company (MSEDCL) has been instructed by The Windmill Owners Welfare Association of India ( MERC ) to pay INR41bn ( ₹5.7765 billion ) in dues to the state’s wind power generators. MERC had submitted a petition to MERC concerning outstanding payments and interest owed under various wind energy purchase agreements. MERC has two weeks to fulfil reconciliation and must submit a report on outstanding dues to avoid penal interest at 1.25% per month on the principal amount. Settlements will continue into 2019 .