Will not cancel solar deal with SECI, says Naidu

Chief Minister N Chandrababu Naidu declared that the agreement signed with SECI (Solar Energy Corporation of India) to procure 7,000 MW of solar power for 25 years at ₹2.49 per unit would not be cancelled.

During a discussion on the energy sector in the State Legislative Assembly on Thursday, Naidu explained that not honouring the agreement—signed under the previous YSRCP regime—would result in penalties and damage to the State's credibility.

The YSRCP has emphasized that the agreement was signed because SECI offered solar power at ₹2.49 per unit, which made the deal even more attractive due to the absence of power supply charges. With the Andhra Pradesh Electricity Board validating the deal with SECI, Naidu announced the same in the Assembly.

Furthermore, Naidu asserted that his government would promote both green and nuclear energy generation. He highlighted that the NDA government has signed Memoranda of Understanding (MoUs) for investments totalling ₹5.19 lakh crore following the launch of the Clean Energy Policy. Naidu announced that once realized, these investments would create 3.66 lakh jobs in the State.

Accusing the previous YSRCP government of increasing power charges nine times and imposing a burden of ₹32,000 crore on the people, Naidu pledged to reduce the unit electricity purchase price from ₹5.12 to ₹4.80. He also pointed out that the State lost ₹9,000 crore due to the underutilization of solar power.