RENEWABLE ENERGY

Andhra solar units seek state’s help to expedite power purchase agreements case in HC

Solar and wind power plant developers in Andhra Pradesh have urged the state government to expedite the hearings in the Amaravati High Court on the pleas concerning 8,000 mega-watt (MW) renewable energy capacities which have been hit by the state’s decision to revise power purchase agreements (PPAs).

The renewable energy developers are seeking compensation against lower tariffs paid to them and have pegged the under-recoveries at around Rs 5,000 crore. The state government, against the advice of the Union power ministry, had formed a committee to revise “abnormally priced wind and solar” PPAs, saying they might have been inked with “malafide intentions”.

Source
financial express
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