States continue to put pressure on renewable energy companies to cut tariffs for projects awarded when costs were higher, ignoring concerns raised by banks, which say their loans are at risk and that such practices would discourage further lending and investment in the sector.

The latest state to seek lower tariffs is said to be Tamil Nadu. The Tamil Nadu Generation & Distribution Co (Tangedco) wants the winners of a solar auction held in January-February to reduce tariffs to Rs 3.47 a unit from Rs 4.40 per unit, matching the winning bid in a subsequent auction.


“There were meetings between Tangedco officials and the winning developers on July 21 and again on August 10,” said a person familiar with the development. “Tangedco has not put anything in writing, but that is what it wants. It will not sign PPAs for a higher tariff.”

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