Minister of State (IC) Power and New & Renewable Energy, has met BJP President Amit Shah the other day and has briefed him about what is happening in Andhra Pradesh about the cancelation of PPAs with Renewable Energy sources. The ministry has written two letters to the State Government advising against the state.
The Minister in his letter addressed to the Chief Minister went on to say that this move of the government will hamper the flow of investments into the country. The State Government did not heed to the advice and went about issuing notices to the companies. Andhra Pradesh High Court had issued a temporary stay on the review.
Meanwhile, speaking to the media, RK Singh said he came to meet Amit Shah to apprise about what is happening in Andhra Pradesh. “I brought this to Amit Shah’s Notice for Top-level Political Interference,” the Minister said. Meanwhile, the State Government has written to the Wind Power Companies asking them to stop their production immediately.
The companies are notified all power units that they are curtailing wind power procurement by 100 percent. There are no written instructions but all the developers are given verbal instructions. Meanwhile, industry experts say that these actions of the State Government will turn the loans of these companies into Non-Performing Assets which will also impact the banking sector.
