YSRC Denies Direct Agreement Between AP Discoms and Adani Group

Vijayawada: The YSRC has denied allegations of a direct agreement between Andhra Pradesh Discoms and the Adani Group following claims of bribery involving government officials to secure power, as reported in an indictment by the US Department of Justice.

In a statement issued on Thursday, the YSRC clarified that it received an offer from the Solar Energy Corporation of India (SECI) to supply 7,000 MW of power at the lowest discovered tariff of Rs.2.49 per KWh, inclusive of a waiver on ISTS charges.

The SECI was tasked with procuring power from projects selected under a Request for Selection. Consequently, the Andhra Pradesh government entered into an agreement to procure 7,000 MW of power from SECI at Rs.2.49 per KWh for a 25-year period. The arrangement included phased commencement: 3,000 MW in the 2024-25 financial year, another 3,000 MW in 2025-26, and 1,000 MW in 2026-27.

The YSRC emphasised that the procurement was approved by the Andhra Pradesh Energy Regulatory Commission. The Power Sale Agreement was subsequently signed on December 1, 2021 between SECI and AP Discoms.