It is a setback, albeit temporary, for Jaganmohan Reddy in Andhra Pradesh. And it is a shot in the arm for Chandrababu Naidu, the Centre which had advised Jagan against his decision and the renewable energy project developers.
The Andhra Pradesh High court has stayed the decision of the Andhra government to revisit the Power purchase agreements, to revise the tariff for solar and wind power projects approved earlier by the AP Electricity Regulatory Commission.
Jagan had formed a committee to review all solar and wind power purchase agreements signed by the previous government, alleging corruption and asking for the tariffs to be renegotiated. This upset the renewable developers who feared their projects will turn unviable.
So nine renewable energy project developers went to court which granted a stay and posted the next hearing for 22 August.
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