Content creators mean business
Social media influencers are flipping the rules by first getting followers and then launching products and ...
The Ministry of New and Renewable Energy has written to the Andhra Pradesh government seeking continuity of existing power purchase agreements (PPAs).
“Revisiting PPAs shakes the confidence of investors in the sector and adversely affects the future bids and investment in the State and the country. I shall be grateful if you could kindly apprise the Chief Minister of the above facts,” Anand Kumar, Secretary, Ministry of New and Renewable Energy said in a letter to LV Subramanyam, Chief Secretary at the Government of Andhra Pradesh. Kumar said he was writing this letter after reports stating that the AP government is objecting to the price at which solar and wind energy is being procured by the State.
“Various renewable energy project developers sign PPAs with the State Government either under Section 62 or Section 63 of the Electricity Act. In the first case, the tariff is fixed by the State Electricity Regulatory Commission in line with the Central Electricity Regulatory Commission guidelines and in the second case the tariff is arrived at through transparent open competitive bidding. In both cases, SERCs conduct public hearings before adopting the tariffs and signing the PPAs,” he said.
Shortly after taking charge, the YS Jagan Mohan Reddy-led AP government has been reviewing infrastructure projects awarded during former Chief Minister N Chandrababu Naidu’s regime.
“Recent projects in both wind and solar power have been awarded through transparent and competitive bids. It seems Jagan wants to take on projects that were offered on a nomination basis,” a representative at a renewable energy power generation association told BusinesssLine. “If corrupt practices are established, there are provisions within the law to scrap projects at any stage. But cancelling projects without any reason is not the way to go about things,” an MNRE official said.
Kumar spoke about the Centre’s target to achieve a total installed capacity of 175 giga watts from the renewable energy sector by 2022 and felt the move to revisit PPAs would dent confidence.
Over the past five years, Andhra Pradesh has seen its renewable energy capacity going up to close to 7.5 GW, with wind power accounting for about 4.2 GW and the rest coming from solar PV installations.
With inputs from Our Hyderabad Bureau
Social media influencers are flipping the rules by first getting followers and then launching products and ...
Paneer, once alien to the South, has found a lucrative market in Chennai
WPP agency Wunderman Thompson has launched its annual Future 100 report, lifting the lid on trends shaping the ...
Carriers claim that all measures — including pre-flight tests, cabin sanitisation and fresh air inflow — have ...
What filters should you apply when mining for under-the-radar small-cap stocks? Read on to find more
High valuation, intensely competitive landscape and small cap nature of the stock are key risks.
Amid choppiness, the benchmark indices slipped marginally; approach the week with caution
SBI Cards (₹1,032.7): Witnesses fresh breakoutBetween September and December last year, the stock of SBI Cards ...
Marie leaned back in the chair, holding the brandy to her chest, the rain tapping on the windowpanes. She ...
The rain in Wales falls mainly in the plains...Wait, that is Spain. Let’s start again.Women in deep red ...
The coffee beans were soaked in rum casks:Food can be imported, books sent across seas — as touching rituals ...
That weekend came the news that Champa’s elder daughter was engaged, the proof arriving in the form of Jaimini ...
Social media influencers are flipping the rules by first getting followers and then launching products and ...
WPP agency Wunderman Thompson has launched its annual Future 100 report, lifting the lid on trends shaping the ...
Paneer, once alien to the South, has found a lucrative market in Chennai
The Flipkart kids playing adults are back — this time to push the home grown e-commerce marketplace’s grocery ...
Three years after its inception, compliance with GST procedures remains a headache for exporters, job workers ...
Corporate social responsibility (CSR) initiatives of companies are altering the prospects for wooden toys of ...
Aequs Aerospace to create space for large-scale manufacture of toys at Koppal
And it has every reason to smile. Covid-19 has triggered a consumer shift towards branded products as ...