Power Purchase Agreement And Power Supply Agreement After Cabinet Nod
· Free Press Journal
Bhopal ( Madhya Pradesh): The power purchase agreement (PPA) and power supply agreement (PSA) will take place in the state only after the cabinet's approval.
The MP Power Management Company Limited (PMCL) recently took a decision at a meeting of its board of directors for it.
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The decision will be implemented after the approval of the energy minister and the chief minister.
Until now, the board of directors of PMCL approved the PPA and PSA, but the state government changed the policy because of the financial burden.
The long-term and mid-term power purchase agreements lead to financial burden, so the cabinet will check whether the agreements are beneficial to the state or not.
The government has received proposals for making energy from biomass, solar battery storage, pump hydro storage, and nuclear energy.
The government has made such a provision that the finance department's approval becomes necessary in these cases.
According to sources, the government is facing a financial burden because there is no necessity for power under the old PPA system. This is the reason that the government has decided to carry out the PPA after mulling over the issue.
According to Additional Chief Secretary (Energy) Neeraj Mandloi, the board took the decision after considering the availability of energy in the current situation and its future requirement.
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