Andhra govt's move to review PPAs affected investment: Centre

On Thursday, the Centre said that the AP government's decision to re-negotiate power purchase agreements (PPAs) had not gone down well with investors.
The statement added that it had adversely affected investment in the county and the state.
Responding to a query, Minister RK Singh, said that the Andhra Pradesh government's decision to reopen and renegotiate PPAs had 'violated the sanctity' of the contracts and 'affected the climate for investments'.
The MoS also said that the Centre had repeatedly advised the state government against going ahead with its move as the agreements should be considered inviolable.
Let us tell you, PPAs are agreements made between a company that generates electricity and a power purchaser.

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