NTPC offers sops to keep Andhra from revoking contracts
NEW DELHI : In an attempt to broker a truce with Andhra Pradesh over its decision to relook at renewable energy contracts, state-run NTPC Ltd has offered to buy 300MW of green power from the cash-strapped state.
The sweetener was offered to prevent Andhra Pradesh from renegotiating power purchase agreements inked by the previous state government.
Scrapping or renegotiating contracts could potentially deter foreign investors and hurt India’s ability to attract overseas investments amid slowing economic growth.
