In order to boost the green energy sector in Andhra Pradesh, Chief Minister YS Jaganmohan Reddy has approved the pumped storage projects of Adani Green Energy. The project was approved in the review meeting of the State Investment Promotion Board (SIPB) on Wednesday. Under this, 4 pumped storage hydroelectricity projects with a total capacity of 3,700 MW will be set up.
This was part of the Rs 60,000 crore projects proposed by the Adani Group in the state. The proposal was approved at the meeting of the World Economic Forum held in January this year. The Andhra Pradesh government will get Rs 3,000 crore revenue from these projects. With this, about 10,000 new jobs will be created.
Under this, two projects of 1,000 MW capacity will be taken up in Cuddapah and Parvathipuram Manyam districts. A 1,200 MW project will be set up at Kurukutty in Parvathipuram Manyam district and a 500 MW unit at Peddakotla in Sri Sathya Sai district.
MoU signed in WEF meeting: Adani Group is rapidly expanding its business in India. The Andhra Pradesh government and the Adani Group had signed a Memorandum of Understanding (MoU) for these mega green energy projects during the recent World Economic Forum (WEF) meeting held in Davos. SIPB has approved the setting up of two Garment Manufacturing Units of Punctuate World Private Limited in Cuddapah district. 50-50 crore will be invested in both these units.
Along with this, the state government has also given approval for setting up of Prawn Processing Unit of Avisa Foods Pvt Ltd at Mallavalli Food Park in Krishna district. 150 crore will be invested in this unit. In addition, SIPB has given permission to VVPL Limited for construction of Novotel Hotel in Tirupati with an investment of 127 crores. It has also been decided to develop a Regional Apparel Park on 1,200 acres in Cuddapah district and give it rail connectivity.
Requirement of 90,000 acres of land: Addressing the meeting, CM Jaganmohan Reddy said that there is scope for generation of 30,000 MW of green energy and for this about 90,000 acres of land would be required. He said that a minimum lease rent of Rs 30,000 per year would be given for this. He said that this would be a good income opportunity for the farmers.