More Renewable energy-producing companies are distressed by the Jagan Government’s decision to renegotiate the PPAs. After the companies refusing to sit with the appointed committee, the State Government stopped the purchase of Solar and Wind Power. The government has communicated the same orally to the companies.
A few companies have already approached the court and now two more companies knocked the high court’s door today. The Government Counsel requested the high court to look into these petitions along with the previous petitions which are scheduled to come to hearing on 22nd of this month.
As of now, 42 companies have approached the court against the government decision. It is known that the high court has kept the G.O. Number 63 which orders renegotiations in abeyance till further orders. On the other side, the center has also written to the State Government to immediately process the pending payments to the companies.
We are told that the government had started releasing payments for Public Sector Companies.
