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.
