AP approves Adani’s Rs 15,376 cr green energy project

The Andhra Pradesh State Investment Promotion Board (SIPB) chaired by Chief Minister Jaganmohan Reddy gave its nod for setting up a 3,700 MW pumped storage project undertaken by Adani Green Energy at an investment of Rs 15,376 crore.

The Adani Green Energy project will be developed in four phases, where the first phase will be taken up in 2022-23 at a cost of Rs 1,349 crore, second phase in 2023-24 with Rs 6,984 crore, third phase with Rs 5,188 crore and the final phase will be completed in 2025-26 with Rs 1,855 crore creating a total employment of 4,000 jobs, officials said.

Few other projects in Kadapa, Parvatipuram, Satya Sai districts were also cleared by the board on Wednesday for generating green energy.

SIPB approved setting up of a garment manufacturing industry by Punctuate World Private Limited at a cost of Rs 50 crore in Pulivendula and Kopparthi providing employment to 4,200 people.

The Board also gave nod for Avisa Foods shrimp processing industry at Mellavelli Foodpark in Krishna district at a cost of Rs 150 crore which would create 2,500 jobs.

Also, clearance was given to set up a hotel at Tirupati under the Novotel brand with investment of Rs 126 crore and creating direct employment to 300 people and indirect jobs to about 2700 people.

Further, the government decided to transform Kopparthi electronic park into a Textile Region Apparel Park, where a Mega Integrated Textile Region and Apparel Parks will be developed in 1,200 acres to produce quality products at low manufacturing costs and to create better employment opportunities.

The chief minister instructed the officials to get the area connected with a railway line as the government will be providing uninterrupted electricity, water and other infrastructure facilities for the success of these parks.

Speaking at the meeting, the chief minister said that there is immense potential for green energy generation of over 30,000 MW in the state, which requires about 90,000 acres of land. Green ‌ energy projects are going to be of great benefit to farmers as they can earn a minimum lease of Rs 30,000 per acre as a fixed income, especially to those in rain-fed areas, Reddy said.