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{"source_url": "https://www.livemint.com", "url": "https://www.livemint.com/companies/news/ntpc-offers-sops-to-keep-andhra-from-revoking-contracts-11577901589162.html", "title": "NTPC offers sops to keep Andhra from revoking contracts", "top_image": "https://images.livemint.com/img/2020/01/01/600x338/nhpc-ksID--621x414@LiveMint_1577901683259.jpg", "meta_img": "https://images.livemint.com/img/2020/01/01/600x338/nhpc-ksID--621x414@LiveMint_1577901683259.jpg", "images": ["http://b.scorecardresearch.com/p?c1=2&c2=6035286&cv=2.0&cj=1", "https://www.facebook.com/tr?id=160090851150189&ev=PageView&noscript=1", "https://images.livemint.com/img/2020/01/01/600x338/nhpc-ksID--621x414@LiveMint_1577901683259.jpg", "https://www.livemint.com/images/nav-arrow.svg", "https://www.livemint.com/images/static/1x1_img.gif", "https://q.quora.com/_/ad/18d72aacafe84701a5b30e418a8a6611/pixel?tag=ViewContent&noscript=1", "https://www.livemint.com/images/livemint-logo-v1.svg"], "movies": [], "text": "NEW DELHI : In an attempt to broker a truce with Andhra Pradesh over its decision to relook at renewable energy contracts, state-run NTPC Ltd has offered to buy 300MW of green power from the cash-strapped state.\n\nThe sweetener was offered to prevent Andhra Pradesh from renegotiating power purchase agreements inked by the previous state government.\n\nScrapping or renegotiating contracts could potentially deter foreign investors and hurt India\u2019s ability to attract overseas investments amid slowing economic growth.\n\nThe offer to buy electricity at \u201cmutually agreed rates\" was made by NTPC chairman Gurdeep Singh to the state government led by chief minister Y.S. Jagan Mohan Reddy at a meeting in November.\n\n\u201cWe are trying to ready a solution. The Andhra Pradesh government has been offered sweeteners,\" a senior Union government official said on condition of anonymity.\n\nQueries emailed to the spokespeople of NTPC and the Union ministry of new and renewable energy on Tuesday evening remained unanswered.\n\nAndhra has India\u2019s second-largest installed capacity of clean energy, accounting for around 10% of the country\u2019s renewable energy capacity, with investments of around \u20b960,000 crore.\n\nState energy secretary N. Srikanth confirmed the development. \u201cWe are yet to receive a formal proposal. Once we get it we will take a decision,\" he said.\n\nThe state has around 7,700MW of solar and wind power projects. It has 4,092MW of installed wind power projects awarded through feed-in tariffs, and 3,230MW of solar power projects awarded through competitive bidding. Andhra owes \u20b920,000 crore to all power generators in unpaid bills.\n\nNTPC plans to use the electricity bought from Andhra Pradesh to bundle it with power generated from its stations to bring tariffs down.\n\nAccording to government documents reviewed by Mint, \u201cNTPC may buy renewable power from Andhra Pradesh for bundling scheme of government of India at an appropriate price.\"\n\nThe Union government has been trying to seek a solution to the issue, given that marquee investors such as Goldman Sachs, Brookfield, SoftBank and World Bank\u2019s International Finance Corp. have invested in the state\u2019s clean energy projects. Mint reported on 29 November about a compromise formula struck during a meeting attended by Union and state government representatives on 7 November. However, the hard-fought compromise floundered.", "keywords": [], "meta_keywords": ["NTPC", "Andhra Pradesh", "renewable energy contracts", "power purchase agreements", "overseas investments", "NTPC Chief", "Gurdeep Singh", "Y.S. Jagan Mohan Reddy", "green power"], "tags": ["Why Not Mint Money", "Start-Up Diaries", "Mint 50 - Top Mutual Funds", "Business of Entertainment", "Market Analysis", "Plain Facts", "Brand Masters", "Money With Monika", "Long Reads", "Digital Gurus", "Long Story Capsule", "NRI Investment Queries", "5G Tech", "NTPC", "Andhra Pradesh", "Ayodhya Verdict", "Mint Views", "Foldable Smartphones", "Mint Explainers", "Mint Insight"], "authors": ["Utpal Bhaskar"], "publish_date": "Wed Jan 1 23:36:06 2020", "summary": "", "article_html": "", "meta_description": "Andhra has India\u2019s second-largest installed capacity of clean energy, with investments of around \u20b960,000 crore.NTPC has offered to buy 300MW of green power from the cash-strapped state", "meta_lang": "en", "meta_favicon": "https://images.livemint.com/rw/PortalConfig/LiveMint/static_content/images/v2/livemint_favicon.png", "meta_data": {"viewport": "width=device-width, initial-scale=1.0, minimum-scale=1.0, user-scalable=no", "description": "Andhra has India\u2019s second-largest installed capacity of clean energy, with investments of around \u20b960,000 crore.NTPC has offered to buy 300MW of green power from the cash-strapped state", "keywords": "NTPC,Andhra Pradesh,renewable energy contracts,power purchase agreements,overseas investments,NTPC Chief,Gurdeep Singh,Y.S. Jagan Mohan Reddy,green power", "news_keywords": "NTPC,Andhra Pradesh,renewable energy contracts,power purchase agreements,overseas investments,NTPC Chief,Gurdeep Singh,Y.S. Jagan Mohan Reddy,green power", "og": {"title": "NTPC offers sops to keep Andhra from revoking contracts", "image": "https://images.livemint.com/img/2020/01/01/600x338/nhpc-ksID--621x414@LiveMint_1577901683259.jpg", "type": "article", "url": "https://www.livemint.com/companies/news/ntpc-offers-sops-to-keep-andhra-from-revoking-contracts-11577901589162.html", "site_name": "https://www.livemint.com", "description": "Andhra has India\u2019s second-largest installed capacity of clean energy, with investments of around \u20b960,000 crore.NTPC has offered to buy 300MW of green power from the cash-strapped state"}, "tweetmeme-title": "NTPC offers sops to keep Andhra from revoking contracts", "twitter": {"card": "summary_large_image", "site": "@livemint", "domain": "livemint.com", "url": "https://www.livemint.com/companies/news/ntpc-offers-sops-to-keep-andhra-from-revoking-contracts-11577901589162.html", "title": "NTPC offers sops to keep Andhra from revoking contracts", "description": "Andhra has India\u2019s second-largest installed capacity of clean energy, with investments of around \u20b960,000 crore.NTPC has offered to buy 300MW of green power from the cash-strapped state", "image": {"src": "https://images.livemint.com/img/2020/01/01/600x338/nhpc-ksID--621x414@LiveMint_1577901683259.jpg"}}, "article": {"published_time": "2020-01-01T23:36:06+05:30", "section": "Companies", "tag": "Andhra Pradesh"}, "author": "Utpal Bhaskar", "Last-Modified": "2020-01-01T23:36:07+05:30", "Last-Modified-Date": "Wed, Jan 01, 2020", "Last-Modified-Time": "2020-01-01T23:36:07+05:30", "storyid": 11577901589162, "section": "Companies", "last-updated": "2020-01-01T23:36:07+05:30", "screen-name": "story"}, "canonical_link": "https://www.livemint.com/companies/news/ntpc-offers-sops-to-keep-andhra-from-revoking-contracts-11577901589162.html"} |
