Andhra Pradesh Chief Minister YS Jagan Mohan Reddy is on a cancellation spree of various projects which started in Chandrababu Naidu’s Regime. The State Government is contemplating to revisit some of the earlier tenders and agreements. Jagan also asked the officials to looks into various PPAs signed with solar and wind developers.
The Ministry of New and Renewable Energy responded to these reports and wrote a letter to Chief Secretary LV Subrahmanyam reminding him that revising PPAs will shake the confidence of the investors and will adversely affect the future bids and investment in the state and the country.
The Ministry asked the Chief Secretary to apprise the Chief Minister of the above facts. In the letter, the Ministry reminded that a contractual agreement once singed should not be revisited unless there is a specific provision to do so in the agreement or a case of conspiracy and undue gains are proved.
The Ministry also confirmed that various projects are signed under due procedures and transparent bidding processes. This will be definitely an embarrassment for the new Chief Minister.Don't MissA Pre-Curser At A Promising Maker Over For Varun Tej!Here it is, the most anticipated, change of look and style from Mega Prince Varun...Don't MissWatch: Can You Identify Jr Artist Puri Jagannadh?Puri Jagannadh's movie 'iSmart Shankar' is soon going to come to the theatres. It's the...Don't MissCostly Ego? Jagan To Demolish Praja VedhikaAndhra Pradesh Chief Minister YS Jagan Mohan Reddy had taken a sensational decision. Speaking at...Don't MissIs Mahesh Getting Carried Away?Now, Mahesh Babu is on a special diet and also practicing some authentic action with...Don't MissModi To Micromanage Jagan?If the indications are anything to go by, Andhra Pradesh may have a Governor of...