Ever since the AP state government announced its decision to renegotiate the Power Purchase Agreements (PPAs), there had been strong criticism against the decision from various corners. While opposition TDP had called its death knell for growth and investments, the Union Government too had warned the state against its decision as it would affect the foreign investments into the state and country. Unfazed by all this, CM Jagan went ahead with his gut and decision. YSRCP has strongly defended its decision to renege contracts.
In fact, Japan had issued missive to AP over reworking of clean-energy PPAs. Even the officials in the Union Government had advised AP government to reconsider its decision on renegotiation of PPAs. Japan’s ambassador too had expressed his views against AP’s move to renege contracts. However, CM Jagan firmly stood by his decision and went ahead.
Now, Rajya Sabha MP and YCP national general secretary claimed that CM Jagan’s decision worked in favour of AP. He claimed that AP has saved Rs 6000 crore in 8 months. This is not all. He claimed that another 8 states including Gujarat is now following AP in renegotiation of PPAs. Vijay Sai Reddy took to Twitter to throw satire on TDP chief Chandrababu alleging that the latter “cried foul” over the renege of contracts citing “investments would be stopped to AP”. Vijay Sai Reddy said by purchasing power at a cheaper rate, AP saved big in the last 8 months.
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