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Dr Verka explores possibility of tariff reduction in PPAs

Various project developers from solar companies like Welspun Power, Azur Power, Ecko Energy, International Earth Solar Pvt Ltd, Allianz Eco Power Ltd etc were present at the meeting.

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Chandigarh: Punjab New and Renewable Energy Minister Raj Kumar Verka said that he is exploring the possibility of tariff reduction in the existing Power Purchase Agreements (PPAs) through mutual agreement with solar and biomass power projects developers in the state.

In the meeting with solar and biomass power project developers here on Tuesday, Dr Verka informed the project developers that the interstate and corporate taxes have been reduced. Therefore the project developers should look into the ways and means to reduce the tariff which benefit the Government and PSPCL which shall further lead to a reduction of the tariff of the general public of the State of Punjab.

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The Minister stated that he is looking forward to a friendly and healthy relationship and they should come forward and invest more in the state. However, they should give their suggestions and any other issue they are facing and the department shall form a committee to find ways and means the methodology after looking into their suggestions to explore the possibility of an amicable solution.

Dr Verka said that a further meeting shall be held by a Sub-Committee constituted for this purpose with various solar and biomass power project developers and only an amicable solution that is acceptable to both Government and private developers/investors shall be taken. He also asked all companies to spend their CSR money in Punjab.

Various project developers from solar companies like Welspun Power, Azur Power, Ecko Energy, International Earth Solar Pvt Ltd, Allianz Eco Power Ltd etc were present at the meeting. The biomass power project developers stated that all of them are using paddy straw and biomass in power projects in Punjab and together among them among themselves handling/utilizing one million ton paddy straw.

The cost of handling, shipping, storage and loss due to whether issues like rain and degradation in the stores leads to loss including fire incidences in the stores of paddy straw and biomass. The biomass power plants are providing a lot of jobs in the rural area of the State and also provide environmental benefits otherwise it was burned by the farmers.

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