Andhra Pradesh And Adani Green Sign 60,000 Cr MoU

Andhra Pradesh and Adani Green Energy signed a Memorandum of Understanding (MoU) on May 23 to set up two mega green energy projects at an estimated cost of Rs 60,000 crore in the State. Besides establishing a 3,700 MV hydro storage project, the renewable energy company will also set up a 10,000 MW Solar Power Project in the State.

R Karikal Valaven, Andhra Pradesh Special Chief Secretary (Industries), and Ashish Rajvanshi from Adani Green Energy exchanged the MoUs in the presence of Chief Minister YS Jagan Mohan Reddy and Adani Group of Companies Chairman Gautam Adani at AP pavilion in Davos, Switzerland. Both the projects are expected to provide 10,000 direct and indirect jobs. The projects will be crucial in the development of industrialisation in Andhra Pradesh setting out for a big RE leap.

On the sidelines of the Forum, Jagan Reddy had held discussions with Gautam Adani on May 22 and May 23 regarding the two projects, according to a report published on May 24. Jagan Reddy is also reported to have met Tech Mahindra CEO and MD CP Gurnani, Executive Vice-President of Dassault Systemes Florence Verzelen, Mitsui OSK Lines President Takeshi Hashimoto and Hero MotoCorp Chairman and CEO Pawan Manjul on the sidelines of the World Economic Forum in Davos.

Andhra Pradesh has set its eyes on becoming a hub of renewable energy. Last week, the state started construction of the world’s biggest renewable energy storage project in Kurnool with help from Greenko Group, which aims at generating 5230 MWs of electricity.

Noting that history is being created with the project, the Chief Minister had said, “What Andhra Pradesh is showcasing (with the project) will be a triggering point for the entire country to follow in the days to come. The usage of fuel of fossil fuel would take a back seat and renewable energy in the front seat.”