In an attempt to persuade Andhra Pradesh chief minister YS Jaganmohan Reddy against revising power purchase agreements (PPAs) with renewable power producers, which is seen as a blow to the sanctity of contracts and could potentially hurt investor sentiments, Union power minister RK Singh has written to the state to take a cautious approach in this matter. Congratulating Reddy on his recent election victory in a letter, reviewed by FE, Singh wrote: \u201cIf an impression goes out that the rule of law does not prevail or the contracts are not honoured, then the investments will dry up and growth will come to a halt.\u201d<\/p>\n
The new government in Andhra Pradesh has formed a committee to revise \u201cabnormally priced wind and solar\u201d PPAs, saying these have \u201cresulted in unjustified burden on the consumers of the state\u201d, besides contributing to the financial woes of state-run discoms. It believes that many of these agreements were signed with \u201cmalafide intentions\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"
In an attempt to persuade Andhra Pradesh chief minister YS Jaganmohan Reddy against revising power purchase agreements (PPAs) with renewable power producers, which is seen as a blow to the sanctity of contracts and could potentially hurt investor sentiments, Union power minister RK Singh has written to the state to take a cautious approach in this matter. Congratulating Reddy on his recent election victory in a letter, reviewed by FE, Singh wrote: \u201cIf an impression goes out that the rule of law does not prevail or the contracts are not honoured, then the investments will dry up and growth will […]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-282163","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282163","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=282163"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/282163\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=282163"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=282163"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=282163"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}