Ray of hope as Andhra Pradesh starts clearing renewable dues this week | Andhra Pradesh economy should be back on track |

[bhaigan]

Home to India’s second-largest installed capacity of clean energy, Andhra has around 7,700 megawatts of solar and wind projects, or around 10% of the country’s green energy capacity, with investments of around Rs 60,000 crore.

BENGALURU / MUMBAI: Ending months of impasse and uncertainty, the Andhra Pradesh government has started clearing arrears to renewable energy companies, providing partial succour to close to 5,000 MW of green energy projects.

The projects have been battling amplified risks since chief minister Y S Jagan Mohan Reddy soon after taking power last year, decided to set up a committee to renegotiate contracts and stop outstanding dues.
 

As a first step towards reconciliation, Andhra Pradesh power distribution companies are believed to have released around Rs 2,500 crore this week in several tranches to settle pending payments of September 2018 till June of 2019, persons aware of the development told ET.

This translates to around 40% of total dues the state owes to power generators as yet, industry officials said. However another official said the outgo till date has been around Rs 1500 crore.

The discoms are paying only Rs 2.44 per unit to the generators against tariffs of Rs 4.80/unit mentioned in power purchase agreements (PPAs) in accordance with a recent directive of the Andhra Pradesh High Court, they said.

More than ten developers, including Renew Power, Greenko, Hero Future Energies and Tata Power, are going to benefit as the dues get settled.
 

“We have got Rs 36 crore of dues from September 2018 onwards for our projects,” said Sunil Jain, CEO at Hero Future Energies. “We have a long way to go,” he added, pointing out that dues remain. Hero has around 120 MW in the state.

Mytrah Energy, which has commissioned 356 MW, has been paid Rs 150 crore for all its projects, its managing director Vikram Kailas told ET.Andhra Pradesh government officials declined to comment on the matter.

The residual dues are also expected to get paid as the state government is negotiating with central agencies for soft working capital loans.

“We have given the state government Rs 1,250 crore by way of loans from IREDA,” said Anand Kumar, secretary of new and renewable energy ministry. “PFC (Power Finance Corporation) is also lending them funds.” IREDA, or Indian Renewable Energy Development Agency, is an arm of the ministry.

The Andhra Pradesh High Court had on December 20, while hearing a contempt petition filed by developers, had directed the state’s discoms to clear pending dues within four weeks by paying the lowest rate discovered so far in any auction in the country – Rs 2.43 per unit for wind power and Rs 2.44 per unit for solar power.

 

 

 

 

[AndhraneedSCS]

Asalu dabbulu levu annaru ga how did they get 2500 crores to pay?

[reality]

Just now, AndhraneedSCS said:

Asalu dabbulu levu annaru ga how did they get 2500 crores to pay?

Appu

[bhaigan]

Just now, AndhraneedSCS said:

Asalu dabbulu levu annaru ga how did they get 2500 crores to pay?

They are getting money bhayya. They are investing in right direction only.

[bhaigan]

2 minutes ago, AndhraneedSCS said:

Asalu dabbulu levu annaru ga how did they get 2500 crores to pay?

small advice from my side, political parties follow avvadam maneseyandi

[AndhraneedSCS]

2 minutes ago, bhaigan said:

small advice from my side, political parties follow avvadam maneseyandi

Maneddam anukuntunna.. Kakapothe nee posts ni chusi ee gnanam penchukuntunna 

[AndhraneedSCS]

3 minutes ago, bhaigan said:

They are getting money bhayya. They are investing in right direction only.

Indulo Investing emi undhi. Already vadina power ki bill late ga pay chesaru 

[bhaigan]

Just now, AndhraneedSCS said:

Indulo Investing emi undhi. Already vadina power ki bill late ga pay chesaru 

Yes Exactly

I mean they are paying without any wastage antunna

[AndhraneedSCS]

Just now, bhaigan said:

Yes Exactly

I mean they are paying without any wastage antunna

Re-negotiate chesi 5000 lo chala dabbulu save chestanu anndu ga .. adi emi ayyindi?

[Armanii]

Jagan govt opposed and tried to cancel to PPAs 

central government and courts asked to stick to the original PPAs and made jagan govt to cough up the dues 

Jagan govt has no option but to pay the dues to the companies. 
This is a blow to Jagan govt 

[Armanii]

2 minutes ago, AndhraneedSCS said:

Re-negotiate chesi 5000 lo chala dabbulu save chestanu anndu ga .. adi emi ayyindi?

It’s all a Trap ....  

[bhaigan]

3 minutes ago, Armanii said:

Jagan govt opposed and tried to cancel to PPAs 

central government and courts asked to stick to the original PPAs and made jagan govt to cough up the dues 

Jagan govt has no option but to pay the dues to the companies. 
This is a blow to Jagan govt 

Central BJP govt. baga pressurize chesindi not to cancel PPA's, inka vellaki option emi undi anduke dues motham pay chesthunaru

Parallely central govt. is releasing funds for other projects and AP re-org Bill promises

[Armanii]

1 hour ago, bhaigan said:

Home to India’s second-largest installed capacity of clean energy, Andhra has around 7,700 megawatts of solar and wind projects, or around 10% of the country’s green energy capacity, with investments of around Rs 60,000 crore.

BENGALURU / MUMBAI: Ending months of impasse and uncertainty, the Andhra Pradesh government has started clearing arrears to renewable energy companies, providing partial succour to close to 5,000 MW of green energy projects.
 

These 7700 megawatts projects were setup before Jagan government won elections 

state and center govts has agreements with the energy companies to buy electricity 

Jagan wanted to cancel these PPAs and give contracts to his power companies like Sundur power etc 

Thus caused huge ruckus and Some energy companies stoped supply to a Andhra Pradesh asking you clear previous dues 

Andhra Pradesh then had electricity crisis causing power cuts in villages

In mean time, Courts and Central Governments ordered the state can’t cancel the PPAs while during the contracts 

Jagan government then Back tracked and said they won’t cancel the PPAs 

So now, above mentioned relief is to people if Andhra Pradesh as there wont be power cuts and big blow is to Jagan government as they had to cough up and pay to energy companies as per PPAs

[Armanii]

4 minutes ago, bhaigan said:

Central BJP govt. baga pressurize chesindi not to cancel PPA's, inka vellaki option emi undi anduke dues motham pay chesthunaru

Parallely central govt. is releasing funds for other projects and AP re-org Bill promises

Share the details of those projects and fulfilled AP re-org Bill promises first 

 

[bhaigan]

Just now, Armanii said:

These 7700 megawatts projects were setup before Jagan government won elections 

state and center govts has agreements with the energy companies to buy electricity 

Jagan wanted to cancel these PPAs and give contracts to his power companies like Sundur power etc 

Thus caused huge ruckus and Some energy companies stoped supply to a Andhra Pradesh asking you clear previous dues 

Andhra Pradesh has electricity crisis causing power cuts in villages

In mean time, Courts and Central Governments said the state can’t cancel the PPAs while during the contracts 

Jagan government then said they won’t cancel the PPAs 

So now, above mentioned relief is to people if Andhra Pradesh as there wont be power cuts and big blow is to Jagan government as they had to cough up and pay to energy companies as per PPAs

24 hrs current anedi pilot project from central govt.

Luckily AP was included into that pilot project.

PPA's cancel cheyali ani alochincharu correct ae kani it didnt worked out

blow etla avuthadi bhayya, central lo unna BJP and state lo unna YCP have good rapo