Adani group to invest ₹60,000 crore in green energy plants in Andhra Pradesh – EQ Mag Pro

AMARAVATI: The Adani group has agreed to invest 60,000 crore in green energy plants in the state. The state government clinched the deal during chief minister YS Jagan Mohan Reddy’s meeting with Adani group chairman Gautam Adani in Davos. Gautam Adani, who held initial discussions with the chief minister on Sunday, met the chief minister again on Monday to formalise the agreement.

Adani group has decided to set up a 10,000 MW solar power project along with setting up another 3,700 MW pumped hydro solar project. The Adani group will invest close to 60,000 crore in two projects. The investment is expected to generate about 10,000 jobs.

The Adani group signed a Memorandum of Understanding (MoU) with the state government in the presence of chief minister YS Jagan Mohan Reddy and Adani group chairman Gautam Adani. Special chief secretary (industries) Karikal Valaven from the AP government and Ashish Raj Vamsee from Adani green energy group signed the MoU.

This is considered to be a big move towards making AP a hub of green energy. “Chief minister YS Jagan Mohan Reddy has succeeded in prevailing upon Gautam Adani to invest in AP. The chief minister’s approach and presentation has made Adani group take the final call on such a big project within 24 hours,” said industries minister Gudivada Amarnath. He said the investment proposal from Adani group is going to be a game changer for the state to attract more big-ticket projects.

Recently, the chief minister laid the foundation stone for the world’s largest integrated renewable energy storage power plant, designed to generate 5,230 MW of power from hydel, wind and solar sources, in Kurnool district.

Source: PTI