Andhra govt's move to review PPAs affected investment: Centre
By News Minute 29-Nov-2019
- 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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