Andhra Pradesh approves green energy projects worth Rs 81,000 crore

According to Industries Minister G Amarnath, the Board has given approval for six green energy projects totalling Rs 81,043 crore and these initiatives will provide employment to 20,130 people.

Chief Minister YS Jagan Mohan Reddy, who chaired a meeting of the SIPB, said green energy will change the face of the state’s economy. (Photo source: Twitter @ysjagan)

The Andhra Pradesh State Investment Promotion Board (SIPB) Monday approved investments worth Rs 81,000 crore in the green energy sector, among others. Chief Minister YS Jagan Mohan Reddy, who chaired a meeting of the SIPB, said green energy will change the face of the state’s economy.

In Kopparthi of YSR district, Causis E-Mobility will invest Rs 386.23 crore of which Rs 286.23 crore will be for the electric buses unit and the remaining Rs 100 crore for basic charging facilities. In the first phase, the unit will manufacture 1,000 buses and create employment opportunities for over 1,200 people, said an SIPB source.

According to Industries Minister G Amarnath, the Board has given approval for six green energy projects totalling Rs 81,043 crore and these initiatives will provide employment to 20,130 people.

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At Ongimalla in YSR district, Astha Green Energy is slated to invest Rs 8,240 crore for an 1,800 MW Hydro Storage Power Plant spread over 1,390 acre. The project, which will provide employment to 4,000 people, is likely to be completed by December 2029.

In YSR district’s Pydiallem, Indo Sol Solar will invest Rs 33,033 crore to generate 7,200 MW in pumped hydro, solar and wind power projects. Whereas AM Green Energy Private Limited will invest Rs 5,000 crore for 700 MW solar and 300 MW wind power projects in Kurnool and Nandyal districts. Greenko has pledged to invest Rs 19,600 crore in pumped storage (1,680 MW), solar (2,300 MW), and wind power (250 MW) and provide employment to 4,230 people in Kurnool district.

Board officials said Lyfius Pharma will invest a total of Rs 1,900 crore to set up a unit in YSR district, which will be ready by April 2024. The unit will provide employment to 2,000 people. This is a bid to reduce the dependency on China for API drugs and the state has allocated 236.37 acre for the purpose, a government source said.

Inosol Solar Private Limited will invest Rs 43,143 crore in three phases for the manufacture of metallurgical grade silicon, poly silicon, float glass and other products, providing direct employment to 11,500 and indirect employment to over 11,000. The plant will come up over 5,147 acre at Ramayapatnam near Nellore. The company will also set up solar power projects of 50 GW and 10 GW.

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In Krishna district, Avisa Foods has agreed to invest Rs 150 crore for its unit at Mallapalli Mega Food Park. The company will start functioning from March 2023 and 11.64 acre was allotted to it. The Board has approved two pumped hydro storage power projects at Somasila and Erravaram. Shirdi Sai Electricals Limited will take up the two projects of 900 and 1,200 MW, respectively, at an investment of Rs 8,855 crore. The two plants will collectively employ 1,600 persons.

The Board has also given the nod for pumped hydro storage projects at Owk and Singanamala, to be set up by the Aurobindo Group at an investment of Rs 6,315 crore. The projects will provide employment to 1,600 people and they will be completed by December 2028, an SIPB source said.

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