Andhra Pradesh govt’s review of green energy PPAs triggers rating cuts for projects

Bengaluru: BENGALURU: Rating agencies have begun downgrading renewable energy projects of Andhra Pradesh because of the government’s decision to review the tariff of all such projects. Mytrah Energy and Acme Solar are two leading developers affected.

Chief Minister Jagan Mohan Reddy has maintained that wind and solar PPAs signed by the previous government are at rates higher than those in other states and alleged corruption in the deals struck. He has formed a committee to examine them all. Based on findings of the report, prices are expected to be renegotiated.