Amarnath justifies PPA with SECI, says it envisages power supply at ‘lowest price’

Taking a dig at a section of the media for targeting former Chief Minister Jagan Mohan Reddy, the YSRCP leader dares the government to scrap the PPA and enter into a fresh one for a price lesser than ₹2.49 per unit

YSRCP district president and former Minister Gudivada Amarnath has taken exception to the reports in a section of the media targeting party president and former Chief Minister Y.S. Jagan Mohan Reddy despite his clarification on the Power Purchase Agreement (PPA) between the Solar Energy Corporation of India (SECI) and Discoms.

Addressing the media here on November 29 (Friday), Mr. Amarnath said the Power Sale Agreement (PSA) was between the SECI and the State government. The agreement envisages supply of power at ₹2.49 per unit, which was the lowest in the country.

The TDP-friendly media was raising a hue and cry that the Inter-State Transmission System (ISTS) charges would result in the price going up further.

Showing a copy of the agreement, he said the PPA with SECI, made on December 1, 2021, stated that the ISTS charges would be waived for the next 25 years.

Had the waiver not been given, the State would end up paying an additional ₹2 per unit. The waiver would help save ₹1.10 lakh crore, Mr. Amarnath said, and added that Tamil Nadu, Odisha and Chhattisgarh had agreed to buy power from the SECI at ₹2.61 per unit during the same year.

On the contrary, the PPAs made by the TDP government during its earlier stint would result in a burden of ₹87,500 crore in 25 years.

The TDP government had entered into 133 wind PPAs at an average cost of ₹4.83 per unit and 35 solar PPAs, including one for purchase of 400 MW from SECI, at ₹4.50 per unit in 2016, the YSRCP leader said.

Wondering why the “visionary Chief Minister” (indirectly referring to N. Chandrababu Naidu) had agreed to purchase power at a higher price, Mr. Amarnath found fault with a section of the media for not talking about the power purchase price between 2014 and 2019.

Alleging that the TDP was trying to mislead the public, he dared the government to scrap the agreement made by the YSRCP government and make a fresh one at a lower price.

He also found fault with a section of the media for trying to project negatively the meeting between Adani Group chairman Gautam Adani and Mr. Jagan Mohan Reddy. The same media had portrayed a similar meeting with Mr. Naidu as a significant event, which indicated its double standards, he said. YSRCP observer Ravi Reddy was present.

Published - November 29, 2024 06:37 pm IST