Power Minister RK Singh has asked Andhra Pradesh Chief Minister Jagan Mohan Reddy not to revisit power purchase agreements (PPAs) as this sends wrong signals to investors and jeopardises India’s commitment to climate change.
In a letter to the Chief Minister, a copy of which is available with BusinessLine, the power minister said the growth in deployment of renewable energy resources is important from a climate change mitigation point of view and for achieving energy independence.
This letter is in response to Jagan Mohan Reddy writing to the Ministry alleging that the PPAs entered by the previous government in the State benefited only three companies, they were financially unviable and they imposed a heavy burden on the State.
Inadequate tariff increase
Singh said the current energy situation in Andhra Pradesh cannot be attributed to renewables as the costs incurred on power purchases are passed through to tariff. Read More
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