A momentous decision dated March 15, 2022 authored by the Hon'ble Chief Justice of High Court of Andhra Pradesh brings much-needed relief to renewable power generators suffering through a tumultuous period of over two and a half years.
A long battle fought between the renewable players and GOAP/Discoms on multiple legal fronts, including unilateral tariff reduction for competitively bid projects, retrospective exercise of regulatory powers by APERC and arbitrary curtailment of power by APSLDC among others.
The Hon'ble High Court has upheld the cause of renewable power generators on all fronts and has emphasized the core essence of State's undeniable responsibility towards policy certainty, sanctity of binding PPAs and jurisdictional scope of APERC to entertain any retrospective amendment to Regulations causing adverse financial impact to renewable generators.
The impugned actions of GOAP/AP Discoms/APSLDC were working against the investors keen interest in India for emerging as a renewable giant. The decision gains much significance from the aspect of India's ambition of reaching 500 GW of renewable power generation capacity by 2030.
HSA through its Partners Shreshth Sharma and Hemant Sahai advised and represented key renewable players –Tata Power (both solar and wind projects) and ACME Power (solar projects). Since the inception of this dispute, HSA has been intrinsically involved at each step of this landmark litigation that cast into doubt thousands of crores of investment in the renewable energy sector in the state of AP. As a result of the successful outcome, renewable power generation companies and their investors stand to recuperate outstanding dues (cumulatively running in several thousand crores) within next six weeks.
We would like to express our sincere thanks to Mr. Sanjay Sen, Mr. Sajan Poovayya and our clients – Ajay Kapoor, Abhay Kumar, Utkarsh Saxena and Sarika Jerath from Tata Power as well as Sandeep Kashyap, Amit Gupta, Tushar Goyal and Meghna Chandra from ACME Power – for their continued faith and efforts
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