After more than three months of lockdown, there is no denying that the Indian economy has been impacted. This is also evidenced by the stimulus packages announced by the Government of India, in an attempt to protect and revive the economy. With most people staying indoors 24*7, electricity consumption in the commercial sector was also impacted initially, although the levels have been restored in a phased manner. This coupled with different lockdown strategies in different states, is also continuing to impact business at large. Taking into account the impact of COVID-19 across the globe, and the lockdown in the country, the government of India and certain central agencies have been providing clarification and issuing memorandums/notifications to guide the infrastructure industry, specifically the renewable energy (RE) sector, and RE projects in terms of COVID-19 being declared as a force majeure (FM).
Continue Reading COVID-19 Cloud Cover: Not so sunny times for renewable energy sector!