Andhra Pradesh: Chandrababu Naidu nonetheless wrestling with Jagan’s lengthy shadow?

The fees created a furore in India. Adani group inventory costs dropped sharply earlier than recovering considerably.

The reverberations are nonetheless echoing in Andhra Pradesh, the place the N. Chandrababu Naidu authorities is contemplating what motion to tackle the mega 7,000 MW solar energy undertaking within the state, what with Adani accused of paying Rs 1,750 crore in bribes to the earlier authorities.

One possibility is to ask the Photo voltaic Vitality Company of India, the nodal public firm concerned in photo voltaic era, to finish the settlement citing considerations over the integrity of the deal.

A second possibility is to renegotiate the deal. Whereas it proposes to ship energy at Rs 2.49 per kWh, analysts say that further prices, together with authorities levies, will take it to Rs 3.8 per kWh; over 25 years, this may imply an influence invoice of Rs 1.6 trillion.

A 3rd possibility is to scuttle the entire deal, however this may contain a stiff penalty of Rs 2,100 crore and likewise set again Naidu’s efforts to woo investments within the state.

In the meantime, it’s reported that Adani Inexperienced has not stored its promise of supplying energy to the state: 3,000 MW beginning in September 2024. It’s learnt that Andhra Pradesh will begin receiving 1,000 MW solely by April 2025. That is effectively in need of the 6,000 MW promised by September 2025.