The state’s electricity regulator has directed the UP Power Corporation Ltd (UPPCL) to create a fund with a separate account and deposit the amount it is liable to pay owing to its failure to buy a minimum of power from renewable sources under the renewable power obligations (RPOs).
The UP Electricity Regulatory Commission (UPERC) issued directions in this regard last week after it found the UPPCL was not meeting the mandatory RPOs.
The commission has asked the UPPCL to deposit Rs 737.11 crore (Rs 7.37 billion) and use the amount to purchase renewable power during the next two years.
