‘Green energy can save Rs 76,000 crore in next 10 years’ – EQ Mag
VISAKHAPATNAM: The state energy department has focused on realisation of the 42 memoranda of understanding (MoUs) that it entered during the recent global investors’ summit in the energy sector for investments worth ₹ 9.57 lakh crore.
The department is planning to frame a special mechanism to achieve this gigantic task. Support will be sought from other line departments for this. The proposed projects under these MoUs include 25 GW renewable energy capacity projects in the districts of Anantapur, Kurnool, Kadapa, Visakhapatnam, and Vizianagaram.
In a recent research report of a think tank, named ‘climate change horizon’, it was mentioned that Andhra Pradesh can save over ₹76,000 crore in the coming decade by retiring old coal units as part of a planned energy transition. As per the report, the savings can be achieved while still meeting the state’s growing energy requirements. The report also said that replacing expensive coal units with cheaper renewable energy has three-fold benefits of reducing electricity costs for consumers, improving financial performance of Discoms, and helping the state achieve its renewable energy targets.
During a review meeting with power utilities, special chief secretary (energy) K Vijayanand said the state entered into several MoUs even prior to GIS for green energy projects worth 81,000 crore.
Source: PTI
