(ET)
Akey state utility has reversed its stand and will buy solar power from a large project, although at a lower rate than initially proposed, giving a boost to the renewable energy sector, which was being derailed by monopolistic distribution companies arm-twisting developers to lower tariffs.
Andhra Pradesh has agreed to buy electricity from Kadapa Solar Park, where a subsidiary of France’s Engie won a 250 MW solar auction held by NTPC seven months ago without any buyer for the output. “We’ve reached an agreement with NTPC to buy power from its proposed 250 MW plant at Kadapa provided it is bundled with 125 MW capacity of thermal power so that the tariff is lower than the Rs 3.15 per unit NTPC had initially proposed,” said Ajay Jain, principal secretary for energy in Andhra Pradesh.
