With investments pouring into the green energy sector, Andhra Pradesh is rapidly establishing itself as a leader in renewable energy in India, said Minister for Energy Peddireddy Ramachandra Reddy. The Minister held a brief teleconference on investments in the energy sector with special chief secretary energy K Vijayanand, CMD APTransco, B Sreedhar, and officials of Discoms and NREDCAP officials.
The minister said that the state has signed 42 MoUs in the energy sector worth around Rs 9.57 lakh crore, which have the potential to create around 1.8 lakh employment opportunities. The country’s top companies Reliance India Limited, Adani green, etc., have also come forward to establish large-scale green energy projects in Andhra Pradesh. This will serve the objective of the State government to strengthen the 24×7 power supply at global standards.
He recalled that last year, the chief minister YS Jagan Mohan Reddy laid the foundation for the Integrated Renewable Energy Storage Project (IRESP) in Kurnool. As the future of the green energy sector in AP looks bright the state government’s commitment to renewable energy, favorable policies, and abundant resources have attracted leading Indian companies to invest in the green energy sector in Andhra Pradesh.
He said that the State govt. has been successful in signing MoUs with top industry captains of India such as RIL chairman Mukesh Ambani and Karan Adani of Adani Group etc. The State has entered into 42 MoUs at Vizag Global Investor Summit on 3rd and 4th March-2023 in the energy sector worth around Rs.9.57 lakh Crore having the potential to create around 1.80 lakh jobs with leading Investors at the National and International level as against a total of 378 MoUs signed in various sectors worth of Rs.13.41 lakh crore having the potential to create 6.09 lakhs jobs.
He stated that Reliance Industries vowed to invest in the generation of 10 GW of renewable solar energy in the State while Adani Green Energy would establish renewable energy units with a 15 GW capacity in Anantapur, Kurnool, Kadapa, Visakhapatnam, and Vizianagaram. The State had already entered into MoUs for green energy projects worth Rs.81,000 crore recently. It clearly indicates that the energy sector in Andhra Pradesh is expected to continue to grow to create new opportunities for investments, job creation, and sustainable development.