Power Purchase Agreements

The Andhra Pradesh Electricity Regulatory Commission (APERC) has approved the purchase of over 4000 million units of power from Solar Energy Corporation of India (SECI) during the next fiscal, after the state DISCOMS have approached the regulator seeking its nod. The SECI Power Sale Agreement (PSA) with Andhra DISCOMs became controversial after Adani Group chairman Gautam Adani was charged by the US Department of Justice over his role in a years-long scheme to allegedly pay USD 250 million bribe to Indian officials including from AP, in exchange for favourable solar power contracts of 7000 MW in 2021 when YSRCP was in power, an allegation refuted by the Indian conglomerate and also the AP opposition party separately. According to an order by APERC on Tariff for Retail Sale of Electricity during FY 2025-26', issued on Friday, the Commission consented to the PSA with detailed reasoning subject to the outcome in the AP High Court in the pending PILs with regard to the agreement. The .

The Damodar Valley Corporation (DVC) has inked a 25-year power purchase agreement (PPA) with the Haryana Power Purchase Centre (HPPC) to export 800MW from 2028-29, a senior official said on Wednesday. The agreement marks a significant milestone in the partnership between DVC and HPPC, building on their existing PPA, under which the corporation already supplies 300 MW to Haryana from its operational units. The agreement, signed with the approval of the power ministry, will enable DVC to supply 800 MW from its three upcoming thermal units to Haryana. "Under the agreement, DVC will supply 300 MW from its Raghunathpur Thermal Power Station Phase-II (2x660 MW), 300 MW from Koderma Thermal Power Station Phase-II (2x800 MW), and 200 MW from Durgapur Thermal Power Station (1x800 MW). Supplies from all three power stations will begin in the fiscal 2028-29," DVC member (finance) Arup Sarkar said. The PPA was signed at HPPC's corporate office in the presence of senior officials from both ...

Adani Power shares fell after reports suggested that Sri Lanka has cancelled a power purchase agreement with the Adani Group amid corruption allegations from the US

The scheme must address structural problems too

Billionaire Gautam Adani and his family plan to inject Rs 9,350 crore into the conglomerate's green energy arm to equip it to achieve the 45 GW target by 2030, according to a company filing. The investment of Rs 9,350 crore in Adani Green Energy Ltd "will be used for deleveraging and accelerated capital expenditure," the firm said in the filing. The green energy developer already has a Power Purchase Agreement (PPA) tie-up of 19.8 GW (out of 20.6 GW locked in capacity, balance 800 MW being merchant) and land of over 2,00,000 acres (equivalent to over 40 GW of additional capacity) in resource rich areas. The board of the company, which has a goal of 45 gigawatts (GW) of green energy capacity by 2030, approved a preferential issuance of warrants to the promoters for a quantum of Rs 9,350 crore at a price of Rs 1,480.75 per share. The issuance is subject to the approval of regulatory and statutory authorities as well as the shareholders of the company at the Extraordinary General Meet

Last week, Bangladesh news agency, UNB reported that BNPB has sought revision of PPA

The Supreme Court on Wednesday sought the response of Tata Power to an appeal filed against the Andhra Pradesh High Court order which held that tariff determined under long-term Power Purchase Agreement (PPA) cannot be revised by a State Electricity Regulatory Commission. A bench comprising Chief Justice D Y Chandrachud and Justice P S Narasimha issued notice to Tata Power Renewable Energy Limited on the appeal filed by Andhra Pradesh Southern Power Distribution Company Limited. "Issue notice returnable on February 10, 2023. Short written notes of submissions, if any, be filed in the meantime," the bench said. The power distribution company has in its plea filed through advocate Mahfooz A Nazki said the finding of the high court is ex facie (on the face of it) contrary to the specific provisions of the Electricity Act. "The High Court has erred in not appreciating that a PPA is not a contract simpliciter as envisaged under the Indian Contract Act, 1872 but is a regulated contract .

GUVNL had terminated the agreement for the solar power plant over the commencement of liquidation proceedings against LANCO Infratech Ltd (owner of the power plant)

Pool to address grid balancing concern as states relinquish costly thermal power to procure more RE

KPI Green Energy on Wednesday said it has inked power purchase agreements to supply a total of 15.88 MW wind-solar hybrid power from its projects to six companies. "KPI Green has signed new long-term power purchase agreements (PPAs) for sale of 15.88 MW (electricity from its) wind-solar hybrid power projects," a BSE filing stated. The companies will be supplied power from the upcoming Wind-Solar Hybrid power project (comprising 16.10MW wind and 10 MW, solar capacity) at Bhungar site in Bhavnagar district of Gujarat, under the Gujarat Hybrid Power Policy 2018, it stated.

JSW Energy on Monday announced signing a power purchase agreement (PPA) with Haryana Power Purchase Centre (HPPC) for the supply of 240-megawatt hydro power.

The Ministries of Power, and New and Renewable Energy have revised the relevant norms as part of the larger efforts to have 500 GW of clean energy generation capacity by 2030

India, which too is in a coal and power crisis, has lessons to learn from this since domestic coal shortage is not the only cause for concern for its power generation sector

Jatindra Nath Swain, chairman and managing director, SECI, spoke to Shreya Jai about the growth prospects of the RE sector in India, the challenges, and plans

This comes after the Central Electricity Regulatory Commission (CERC) allowed the discom to nix its PPA with Dadri power unit of state-owned power generator NTPC

It will now sign supplemental PPAs with these units on a "case-by-case basis" over and above the existing PPAs.

Maharashtra is one of the five states that procure power from Tata Power's Mundra ultra mega power plant in Gujarat.

While the forum is advocating India not just as a preferred market but also as an export hub, many member firms have raised concerns about sudden policy changes impacting inbound global investments.

In the earlier two rounds held over the last two years, around 9,389 megawatt (MW) of power capacity bid for the coal under the SHAKTI scheme

PPAs are typically of 25-30 years duration. The ministry is designing a policy paper to dwell on the alternative for long-term PPAs.