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AP asks Centre to bear Rs 5000 cr losses: PPAs

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AP asks Centre to bear Rs 5000 cr losses: PPAs

AP Minister Balineni Srinivas Reddy dashed off a strongly worded letter to Union Power Minister RK Singh. He asked the Centre to get ready to bear the huge losses being suffered by Andhra because of the PPAs with the solar companies. According to him, AP has been buying power from solar companies at a higher price. Because of this, the state is suffering losses to the tune of Rs 5000 Cr.

Jagan Regime has apparently begun to go for a showdown with the Centre by not honouring the PPAs. Srinivas Reddy letter came just a day after Union Power Minister RK Singh spoke strongly against dishonouring the PPAs.

Now, it’s clear that the Jagan Reddy government is determined to collide head-on with the Modi government which is having ambitious plans to increase solar power generation multiple times to meet rising future demand.

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Dishonouring PPAs will hurt investments: Union Minister

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Dishonouring PPAs will hurt investments: Union Minister

The Jaganmohan Reddy government has not made any corrective steps till now on the cancellation of PPAs with solar companies. The Centre has taken objection to this several times already. Once again, Union Minister RK Singh commented that everybody should abide by the Power Purchase Agreements. Only this will bring investments. Otherwise, the power generating companies will not show interest in India.

Singh’s comment was obviously made keeping in view of the Jaganmohan Reddy government’s controversial decisions. Jagan’s unilateral decisions have already hit investors’ confidence in Andhra. This is spreading to other parts of the country.

In the coming years, the power generation will have to go up by three times in accordance with the rising demand. This cannot be achieved if PPAs are dishonored and companies are harassed like in Andhra Pradesh. The Union Minister made indirect remarks against Jagan Circar in the presence of Power Ministers and Secretaries of all states. Now, speculation started on future tougher stand of Centre against AP PPAs issue.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

Is Jagan favouring high cost thermal PPAs? asks CFA

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Is Jagan favouring high cost thermal PPAs? asks CFA

The Delhi-based ‘Centre for Financial Accountability’ (CFA) has asked whether AP Chief Minister YS Jaganmohan Reddy has adopted double standards over the Power Purchase Agreements (PPAs). Why is Jagan discouraging the lower cost PPAs of eco-friendly solar companies? Is he favouring the higher cost PPAs of thermal power plants?

It is well known Jagan Circar has cancelled PPAs of solar companies saying that their Rs 4.54 unit cost is very high. But he is not taking any similar action in respect of the thermal PPAs whose unit cost is Rs 5.75 which is clearly higher. Moreover, this is not eco-friendly energy like solar power.

The CFA, which is a research organisation, comments on the economy and the governments’ financial decisions that have impact at the national level. Jagan’s arbitrary cancellation of PPAs has stirred a nationwide debate. He is sticking to his decision despite cautionary warnings given by the Centre and foreign embassies. Now, national organisations like CFA have started passing critical comments on Jagan policies. CFA experts say that negative policy towards solar and wind power companies will not make good sense both economically and environmentally.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

Tribunal blow to YCP Circar on PPAs

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Tribunal blow to YCP Circar on PPAs

The Electricity Appellate Tribunal ordered the AP government not to cancel the Power Purchase Agreements reached with the solar power companies. It also said that there is no necessity for conducting any public hearing on this aspect. The Tribunal gave orders to this effect to the Andhra Pradesh Electricity Regulatory Commission (ERC).

The Tribunal responded based on the petitions filed by solar power companies having units in the Kadapa and Anantapur districts. Three companies named SBE, Ayana and Sping made this petition.

The Tribunal order came as a big shock to AP. The Centre had already taken serious objection to the Jaganmohan Reddy government’s decision on PPAs. The Central Government officials have cautioned that YCP Government’s action will hurt future investments not just in AP but in the entire country.

Responding on the Tribunal order, the TDP asked CM Jaganmohan Reddy to open his eyes at least now and stop the reverse governance in the state.

Telugu360 is always open for the best and bright journalists. If you are interested in full-time or freelance, email us at Krishna@telugu360.com.

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