The YSRCP has outrightly dismissed accusations that the Chairman of Adani Group, Gautam Adani paid ₹1,750 crores in bribes to get solar energy contracts with the Andhra Pradesh government. Allegedly related to an FBI investigation into an affair of this sort within the United States, the party trashed the allegations and now puts forth a detailed clarification on the facts of the Andhra Pradesh solar energy projects.
YSRCP clarified that the Andhra Pradesh government has been providing 12,500 megawatts of free electricity every year to the agricultural sector and the state is paying for the distribution. But due to high tariffs on PPAs signed under earlier administrations, the state’s DISCOMs have been paying ₹5.10 per kilowatt for electricity, which the current government wanted to rectify.
In 2020, the YSRCP government launched a plan to develop 10,000 MW of solar power through state-led solar parks. They have high electricity costs which can be reduced. The Andhra Pradesh Green Energy Corporation Limited, APGECL invited tenders for 6,400 MW of solar capacity, got back 24 bids in the range of ₹2.49 to ₹2.58 per kilowatt. However due to legal and regulatory hurdles, this tender process could not move forward.
These were followed by the government entering into an agreement with SECI, a central government undertaking, to purchase 7,000 megawatts of solar power at ₹2.49 per kilowatt for 25 years. The deal was structured in three phases: 3,000 megawatts in 2024-25, another 3,000 megawatts in 2025-26, and 1,000 megawatts in 2026-27. The Andhra Pradesh Electricity Regulatory Commission (APERC) has approved the finalised agreement done in December 2021. CERC also said that they have given approval for the agreement. The YSRCP strongly says that there is no direct agreement between the Andhra Pradesh DISCOMs and Adani Group or any private organisation. The bribery allegations were absolutely baseless, it added.
The party also made a point that this project of solar energy also brings about significant welfare gains, as the tariff rate of the project brings the state ₹3,700 crores in terms of annual savings. The long-term benefits associated with 25 years of contract term for this project will further enhance a promise of the government to provide affordable and sustainable energy to the people of Andhra Pradesh.
