Thursday, April 18, 2024

CM Jagan lays stone for power projects

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APGENCO signs MoU with National Hydro-Electric Power Corporation

PNS | VIJAYAWADA

Chief Minister YS Jagan Mohan Reddy virtually laid the foundation stone for three renewable energy projects for producing 5,314 MW of power in Nandyal district. APGENCO also signed an MoU with the National Hydro-Electric Power Corporation (NHPC) in the presence of the Chief Minister to promote pumped storage power projects.

Speaking on the occasion after laying foundation stones from the Camp Office here on Wednesday, the Chief Minister said the projects would help Andhra Pradesh become number one in green energy.

He laid stones for the 2,300-MW solar power project to be set up by Greenko in Junuthala village in Owk mandal, 700-MW solar and 314-MW wind power plants to be set up by AM Green Energy at Kandikayapalle in Panyam mandal and the 1,000-MW solar and wind power projects each to be set up by Ecoren Energy in Muddavaram village in Bethamcherla mandal.

These companies will invest Rs. 10,350crore, Rs 4,500 crore and Rs 11,000 crore, creating employment opportunities for 2,300, 1,000 and 2,000 persons, respectively.

The Chief Minister said that pump storage power projects were environment- friendly and would reduce dependence on fossil fuels. He also released a White Paper on the opportunities for investments in the State in the green hydrogen sector.

Pump storage power projects will help us produce power during peak hours and bring in a revolution in green energy, which will control the world in future and the State will become part of the green energy revolution.

MoU on pump storage projects

In all, 37 locations have been identified to start pump storage units to produce 41,000 MW and feasibility studies were completed on 29 projects for producing 33,240 MW.

DPRs are ready for projects to produce 20,900 MW, out of which companies were permitted to begin work to produce 16,180 MW.

As per the MoU between APGENCO and NHPC, the two will set up 1,000-MW and 950-MW pump storage units at Yaganti and Kapalapadu, respectively, with an investment of Rs. 10,000 crore in partnership. These units will provide jobs to 2,000 persons.

APGENCO and NHPC will also set up pump storage power units worth 2,750 MW in three more locations, for which feasibility studies are underway, he said.

Besides providing jobs to locals, the companies will also pay a royalty of Rs 1 lakh for each MW and pay farmers Rs. 30,000 per acre every year with a price escalation of five percent every two years for giving their lands. The State is already producing 8,999 MW of solar and wind power.

The agreement with the Solar Energy Corporation of India to get power at Rs 2. 49 per unit will help in providing free power to farmers during day time for another 25 to 30 years.

Energy Minister P Ramachandra Reddy, Finance Minister B Rajendranath, Deputy Chief Minister (Endowments) K Satyanarayana, CS Dr KS Jawahar Reddy, APGENCO MD KVN Chakradhar Babu, NREDCAP VC & MD S Ramana Reddy, British Deputy High Commissioner Gareth Wynn Owen, Deputy Head Mission (UK Government) Varun Mali, Senior Advisor to UK Government Nishnat Kumar Singh, NHPC Finance Director RP Goel, Greenko Vice President N Seshagiri Rao, AM Green Energy Business Head Samir Mathur, Ecoren Energy CMD Y Lakshmi Prasad and senior officials were present.

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