TPN, Amaravati: Power Minister Gottipati Ravi Kumar has affirmed the Andhra Pradesh government’s commitment to establishing the state as a leader in the power sector. Speaking at a Power Investors Review Meeting held at the Secretariat, Minister Kumar outlined the steps being taken under Chief Minister Nara Chandrababu Naidu’s leadership to enhance the state’s standing in the energy industry. The meeting was attended by key representatives from various prominent renewable energy companies, along with AP Gen Co MD Chakradhar Babu and AP Trans Co JMD Kirti Chekuri.
During the meeting, Minister Kumar pledged to address the concerns raised by private power generation companies, assuring attendees that their issues would be communicated to Chief Minister Naidu for prompt resolution. He acknowledged that the power sector has been hindered by ill-advised decisions made by the previous government but emphasized the current administration’s commitment to strengthening it.
He reiterated that the government is dedicated to creating a business-friendly environment for investors in the power sector, stating that the doors are open 24/7 for power generation companies. Kumar referenced the Chief Minister’s ongoing efforts under the “Ease of Doing Business” initiative, first announced during an investor conference in Gujarat. The minister discussed specific issues raised by investors, including Generation Based Incentives (GBI), Late Payment Surcharge (LPS), Tax Pass Through (TPT), and Capacity Utilization Factor (CUF).
Furthermore, Kumar expressed optimism about Andhra Pradesh becoming a preferred destination for entrepreneurs. He announced that the state government would soon introduce the AP Integrated Clean Energy Policy 2024, designed to encourage investment in the sector. The minister also highlighted the lingering challenges faced by investors, such as the cancellation of power purchase agreements and ongoing legal disputes from the previous administration.
For the first time in five years, investors expressed satisfaction with the alliance government’s willingness to engage in dialogue, reporting that the government’s assurances and recognition of their concerns have boosted their confidence in future investments.