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YSRCP on Adani 2200 crore scam: Gautam Adani and his nephew Sagar Adani have been accused in a US court of bribing Indian officials. In which the names of Andhra Pradesh, Telangana and Jammu and Kashmir states are associated. The then YSRCP government of Jagan Mohan Reddy has denied the allegation of bribing a high-ranking official of the Andhra Pradesh government in this case. He has also clarified that his party has no involvement in this. We have no direct connection with Adani.
According to a case filed in a Brooklyn court, Gautam Adani defrauded state distribution companies to the tune of Rs. There is an allegation of giving bribe of Rs 1750 crore. In which a claim has been made to bribe an official of the then Andhra Pradesh government.
YSRCP replied
Giving clarification on this matter, YSRCP has said that the power distribution companies of Andhra Pradesh provide 12500 megaunits of electricity to the agricultural sector every year. For which the government compensates the power companies according to the cost. Due to the policies of the previous government, power purchase agreements were entered into at additional tariffs. Due to which the burden of subsidy on the state government increased. To overcome this problem, a proposal was presented to install 10 thousand MW solar capacity in solar parks in the state.
Tenders were filled as per law
Andhra Pradesh Green Energy Corporation Limited issued a tender in November, 2020. This tender was for the development of total solar power capacity of 6400 MW power. For which Rs. 2.49 to Rs. 24 bids were received at the rate of Rs 2.58 per kilowatt. However, legal and regulatory challenges stood in the way of this tender. Therefore it could not succeed. Later Rs. A proposal to supply 7000 MW power at the rate of Rs 2.49 per kilowatt was received. This was lower than all other rates.
This project was in the interest of the state
According to the statement of YSRCP, the approval of Andhra Pradesh Electricity Regulatory Commission for purchasing 7000 MW power was received on November 11, 2021. After receiving approval from APERC, the power sale agreement was signed between SECI and the power distribution companies of Andhra Pradesh on December 1, 2021. In which the Central Energy Regulatory Commission also approved. This project was in the interest of the state. By purchasing electricity at such a cheap rate, the state earns Rs. There will be savings of Rs 3700 crore. And since this agreement is for 25 years, the state will benefit manifold.