The 6.4 GW auction success takes the state government closer to its 10 GW solar target to provide free, uninterrupted power supply to farmers during the daytime.
Solar power developers have until December 28 to bid for an aggregate 6.4 GW of grid-connected solar power capacity, which shall come up across ten locations in the state. The Andhra Pradesh Green Energy Corporation Ltd (APGECL) will serve as the offtaker and supply the power procured from these projects to meet the demand of agricultural loads in the State.
The overall energy outlay of Rs 6984.73 crore for the year 2020-21 is much lower than 2019-20’s revised estimate of Rs 11,639 crore.
The state—which commissioned an aggregate 3530.74 MW solar capacity as of May 31, 2020—will set up the new plants to ensure nine hours of free power supply to the agriculture sector.
Ratings may be downgraded if there is a persistent delay in resolving the tariff related dispute or any adverse revision in the tariffs by the state regulator and/or continued delays in receipt of payments from DISCOMs.
India may fall around 7 GW short of its ‘60 GW by 2022’ utility-scale solar target if the power purchase agreement revision proposal by the state government is implemented.
The latest blow in the political battle between clean energy project developers and an anti-renewables state government has seen the electricity regulator order power distribution companies to honor PPAs signed after a public tender.
Plant load factor for thermal power generators ramped up to 70-80% between July 2019 till date while solar power projects were arbitrarily backed down by more than 60-70% of their operational capacity during the same period.
Revoking PPAs with renewable developers will undermine national climate and air pollution goals and lock in higher electricity costs for the state by jeopardizing new renewable projects.
Legal decision is the latest blow to new chief minister Jaganmohan Reddy’s determined attempt to reverse the clean energy gains made by his predecessor N Chandrababu Naidu.
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