Andhra Pradesh’s green energy investors now fear loan recall

Green energy developers, caught in a bind due to Y.S. Jagan Mohan Reddy-led Andhra Pradesh government’s decision to reopen power purchase agreements (PPAs), now run the risk of their loan facilities getting recalled, said two people aware of the development.

This comes in the backdrop of 5.2 giga watt (GW) of solar and wind energy projects with an estimated debt exposure of over Rs21,000 crore in the state hanging fire, due to the state government’s decision to reopen renewable energy contracts inked under the previous N. Chandrababu Naidu government.

A renewable energy chief executive officer’s council of lobby group Federation of Indian Chambers of Commerce and Industry (FICCI) has raised the issue before union ministry of new and renewable energy (MNRE), and said that despite reduced interim tariffs to be paid by the state, there is power curtailment happening.

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