Adani Group to invest INR 60,000 cr to set up renewable projects in Andhra Pradesh
Adani Group investment of INR 60,000 crore to set up two power projects include a 10,000 MW solar power plant along with a 3700 MW pumped hydro plant in Andhara Pradesh. The investment is expected to generate about 10,000 jobs in the state.
The Andhara Pradesh government has finalized a deal with the Adani Group during Chief Minister Y.S. Jaganmohan Reddy’s meeting with Adani Group chairman Gautam Adani in Davos.
The state government signed a deal with Adani on Monday in which the group agreed to invest Rs 6000 crore in green energy plants in the state.
Gautam Adani, who had held initial discussions with the chief minister on Sunday, met again with the chief minister on Monday to finalize the agreement.
Adani Group has planned an investment of INR 60,000 crore to set up two power projects in Andhara Pradesh. The two projects include a 10,000 MW solar power plant that will be set up along with a 3700 MW pumped hydro plant. The new investment is expected to generate about 10,000 jobs in the state.
In this regards, an Memorandum of Understanding (MoU) has been signed between the Adani Group and the Andhara Pradesh government on Monday.
Special Chief Secretary (Industries) Karikal Valaven from the AP government and Ashish Raj Vamsee from Adani Green Energy signed the MoU in the presence of Adani Group Chairman Gautam Adani and Chief Minister of Andhra Pradesh Y.S. Jagan Mohan Reddy.
The state industries minister, Gudivada Amarnath, said that the chief minister, YS Jagan Mohan Reddy, had succeeded in prevailing upon the Adani Group to invest in Andhra Pradesh. He further stated that Mr. Reddy’s approach and presentation had made the Adani Group take the final call on such a big project within 24 hours.
This is a big move toward making AP a hub of green energy. Also, Adani Group’s investment proposal will bring in more big-ticket projects to the state in the coming days.
Recently, the Chief Minister laid the foundation stone for a 5230-megawatt integrated renewable energy storage power plant in Karnool district. this plant is being designed to use hydro-power along with wind, and solar sources to generate electricity.
