VIJAYAWADA: The Appellate Tribunal for Electricity (APTEL) has ordered an ad interim stay on the Andhra Pradesh Electricity Regulatory Commission (APERC)’s stand to withdraw the approval given to Power Purchase Agreements (PPAs) signed with renewable energy generator Axis Wind Farms (Penna) Pvt Ltd. It has also directed that notices be issued to the APERC.
This comes in wake of the APERC scheduling a public hearing on August 17 to review the approval pertaining to 21 PPAs signed with the said firm for the procurement of about 776 MW of power. Earlier, the APSPDCL had given a memo stating that it has decided to withdraw the consent given to the agreements as they haven’t been approved yet.
This prompted Axis Wing Farms to file a petition before the APTEL. In its order uploaded on Thursday, the APTEL observed that the petitioners expressed concern that if the APERC approves the withdrawal of the consent given for the agreements on August 17, they would suffer irreparable loss, besides great financial burden since bank guarantees for substantial amount has already been given to the nodal agencies.
“Issue ad interim stay of the further proceedings pending before the Respondent Commission (APERC) pertaining to the matter of approval of 21 PPAs of Petitioners. Issue notice to the respondents,” the order read. The tribunal posted the matter to August 26 for further hearing.