YSRCP Alleges Massive Scam In Andhra Power Deal; Govt Denies Charges-OxBig News Network

The YSR Congress Party (YSRCP) on Monday made severe allegations against the Andhra Pradesh government, charging it with involvement in a “massive corruption scam” by way of an expensive renewable energy deal with Axis Energy. Speaking at a press conference in Hyderabad, senior YSRCP leaders G Srikanth Reddy and G Amarnath condemned the state’s fixed-price power purchase agreement with Axis Energy at Rs 4.60 per unit as “profiteering in the name of procurement.”

“This is not a power agreement; this is daylight robbery. Locking into ₹4.60 per unit for 25 years when cheaper options are available is a betrayal of public interest,” Srikanth Reddy stated.

‘Axis’ of Loot – ‘Power’ed By Naidu-nomics

The TDP-led coalition government has signed a power deal with Axis Energy to buy electricity at Rs 4.80 per unit for 25 years. This deal is almost double the rate of earlier agreements and will place a heavy burden on the people of… pic.twitter.com/UW7ueXBm97
— YSR Congress Party (@YSRCParty) May 5, 2025

The leaders drew comparisons with a previous deal during Y S Jagan Mohan Reddy’s tenure, where power was reportedly procured at Rs 2.49 per unit from the Solar Energy Corporation of India (SECI). They accused the current NDA-led coalition of double standards for previously criticising SECI’s pricing as a Rs 1.10 lakh crore burden, while now committing to far higher rates.

The YSRCP also argued that during the Telugu Desam Party (TDP)-ruled government, the dues to power firms had increased tremendously — from Rs 29,000 crore to Rs 86,300 crore — at a compound annual growth rate of 24%. In comparison, they said, this growth rate declined to 7.2% during the rule of Jagan Mohan Reddy.

The opposition also claimed that while promising to lower power tariffs during the elections, the present government has instead added another burden of Rs 15,000 crore on people.

Govt Responds: Deal Ensures Energy Security

Rejecting the charges, Andhra Pradesh Energy Minister G Ravikumar termed the YSRCP allegations as “politically motivated and misleading.” He justified the Axis Energy agreement by saying that the project comprises a diversified portfolio of solar, wind, and battery storage systems meant to cater to the actual energy requirement of the state in an efficient manner.

“This agreement is not only about power rates; it ensures employment, tax revenue, and long-term energy security. The project will help create a more resilient and sustainable grid,” the minister stated.

Ravikumar called on former Chief Minister Y S Jagan Mohan Reddy to “end the malicious campaign” and endorsed the coalition government’s adoption of transparency and sustainability in energy policy.