Jagan constituted Committee to negotiate with Power Purchase Agreements
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Jagan constituted Committee to negotiate with Power Purchase Agreements

By Thehansindia calender  01-Jul-2019

Jagan constituted Committee to negotiate with Power Purchase Agreements

As announced, the Chief Minister YS Jagan Mohan Reddy has constituted a High Level Negotiation Committee (HLNC) for Power Purchase Agreements (PPAs) to review, negotiate and bring down the high wind and solar energy purchase prices. The HLNC asked to complete the negotiations and submit a report to the Government within 45 days, calculating from Monday onwards.
 Government observed that the Power Distribution Companies (DISCOMS) in the state are in financial crisis with huge power purchase dues amounting to about Rs 20,000 crores as on date. One of the major reasons for this is the issue of abnormally priced wind and solar power purchase agreements entered in the recent years. In order to ensure that consumers are provided with affordable power and DISCOMS are pulled out of the financial distress there is a need to review and renegotiate the exorbitantly priced wind and solar PPAs.

 

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