India extends deadline for some PM KUSUM solar projects to March 2027
Change
India extended the commissioning deadline to March 31, 2027 for PM KUSUM solar projects whose power purchase agreements or letters of intent were signed or issued on or before December 31, 2025.
Why it matters
Developers and state agencies must now obtain lender sign-off and financial closure to take advantage of the additional time, because banks have been reluctant to extend loans under the earlier deadlines. Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM KUSUM) — a programme to promote decentralised solar capacity in the agricultural sector.
Implications
- • State renewable energy departments' project teams must coordinate with commercial lenders to secure financial closure for eligible projects or those projects will be unable to use the March 31, 2027 commissioning window.
- • Commercial banks and financial institutions' lending desks must decide to extend or restructure loans for eligible PM KUSUM projects to enable commissioning by March 31, 2027 — failure to provide extensions will leave projects without financing for extended timelines.
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Topics
Policy & Regulation Regulatory Actions Agriculture Renewable Energy Grid & Utilities