‘Axis of loot’: YSRCP alleges massive scam in Andhra Power deal; government denies all charges

New Delhi: The Yuvajana Sramika Rythu Congress Party (YSRCP) on Monday accused the Andhra Pradesh government of being involved in a major scam through a power deal signed with Axis Energy, a company that produces renewable energy. YSRCP leaders G Srikanth Reddy and G Amarnath said that the government agreed to buy power from Axis Energy at a fixed rate of Rs 4.60 per unit. They said this is very costly and will create a heavy financial load on the people of Andhra Pradesh for many years.

“This is not about buying electricity, this is about making profits. When cheaper options are available, choosing such a high rate is wrong and against public interest,” Srikanth Reddy said during a press conference in Hyderabad.

They drew attention to, that when Y S Jagan Mohan Reddy endorsed a power deal with the Solar Energy Corporation of India (SECI) at Rs 2.49 per unit, leaders of the NDA alliance lambasted and claimed it would cause a loss of Rs 1.10 lakh crore. Now, for the next 25 years, the same NDA-led government has agreed to pay Rs 4.60 per unit. YSRCP leaders said this decision will fix the high rate even if prices go down in the future.

Reddy and Amarnath also said that during the rule of the previous TDP government, dues to power companies rose from Rs 29,000 crore to Rs 86,300 crore, with a 24% compound annual growth rate (CAGR). They claimed that under Jagan Mohan Reddy’s supervision, the CAGR came down to 7.2%.

They also affirmed that even though Chief Minister N Chandrababu Naidu promised to lower electricity prices, his government has added a burden of Rs 15,000 crore on the public.

In response, Andhra Pradesh Energy Minister G Ravikumar said that the statements made by YSRCP are not true. He claimed that the power purchases made by YSRCP were actually at higher prices than they publicly acknowledged.

He also defended the Axis Energy project, saying it would create jobs, generate tax income, and provide a reliable power supply using solar, wind, and battery storage, depending on the state’s needs.

Ravikumar urged Y S Jagan Mohan Reddy to stop spreading what he called a ‘malicious campaign’ and to appreciate the current government’s focus on transparency, clean energy, and long-term energy security for Andhra Pradesh.

(With PTI Inputs)

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