Japan cautions Andhra Pradesh against reworking green power pacts
BENGALURU: Japan has cautioned the Andhra Pradesh chief minister that the state’s efforts to cut renewable energy tariffs by reviewing signed-and-sealed contracts has unnerved foreign investors and damaged the business environment.
India’s renewable energy sector has seen a flood of foreign investments with companies from France, South Africa and Europe participating in tenders. Industry executives said Andhra Pradesh’s actions could have severe implications because many renewable energy companies are funded by overseas sovereign and pension funds.
