Renewable PPAs in Andhra Pradesh benefited 3 players: Jagan

The Power Purchase Agreements (PPA) entered into by the previous Andhra Pradesh (AP) government had benefited only three players and has imposed a heavy burden on the state, according to Chief Minister Jagan Mohan Reddy.

In a letter to PM Narendra Modi, which is with BusinessLine, Jagan, who has been under fire from the industry for wanting to cancel all power projects, has shot back at the industry. “With respect to the renewable PPAs executed in the state, the sad part is that all of them were executed for a long term of 25 years. This was purchased at very high tariffs and majorly to benefit 3 players,” he wrote. He had sought renegotiation of existing PPAs, and wants to do away with its decision to enter into PPAs for all upcoming clean energy projects. He has also launched a probe into 30 pacts signed under TDP government.