Continuous review, cancellation of PPAs by AP govt will hit growth: Power Minister

Hyderabad (Telangana) [India], Sept 9 (ANI): Union Power Minister R K Singh on Monday said that continuous review and cancellation of Power Purchase Agreements (PPA) by the Andhra Pradesh government will send a wrong message to investors.
"The Andhra Pradesh government is continuously reviewing and cancelling the PPAs. People come and invest in this country with the faith that the contract they sign will be observed. If you start abrogating the contracts, people will stop investing. In the power sector, growth is driven by foreign investment as the world is watching India as a country where renewable energy capacity is growing," he told a press conference here.
"I told Jagan Mohan Reddy that continuous cancellation of PPAs will disrupt growth. He also came to Delhi and gave his point of view to the Prime Minister and we will be soon giving a reply on it," he added.
Speaking on the completion of 100 days by the BJP government at the centre, Singh said that the achievements of the central government were more than any other governments in the past.
He particularly pointed out the abrogation of Article 370 and 35A in Jammu and Kashmir as a major achievement of the government.
"The Narendra Modi Government in a historic step removed the special status under Article 370 to Jammu and Kashmir and Article 35A of the Constitution was abrogated as a result of which all provisions of the Constitution of India will now apply on Jammu and Kashmir," Singh said. (ANI)