Andhra Pradesh: CM Jagan Mohan Reddy set to lay foundation of world’s largest integrated renewable energy storage project in Kurnool

Officials said it is the largest such project in the world and will enable the production of green hydrogen and green molecules at a low cost, thereby reducing the LNG import bill to the tune of $25 billion.

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy. (File)

Andhra Pradesh Chief Minister YS Jagan Mohan Reddy is set to lay the foundation for the 5,230 MW Integrated Renewable Energy Storage Project (IRESP) at Kurnool Tuesday. The Rs 15,000-crore power project undertaken by the Greenko Group is located at Gummitham Tanda, Brahmanapalli village in Orvakallu in Kurnool district.

Officials said it is the largest such project in the world and will enable the production of green hydrogen and green molecules at a low cost, thereby reducing the LNG import bill to the tune of $25 billion.

“It will help in decarbonization to the tune of 50 GWh of electricity daily, offsetting 15 million tonnes of CO2 emissions per annum, which is equivalent to replacing five million cars with electric vehicles or 2.5 million hectares of afforestation,” said an official.

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Greenko has signed cloud energy storage contracts with the NIIF-backed Ayana Renewables, ArcelorMittal, Adani Group and also inked an MoU with the NTPC for storage services to deliver peak and round-the-clock renewable energy to the Indian market. Officials said that energy storage is essential and critical for the country in meeting Paris Climate Accord emission goals and boosting energy security.

The project has raised $750 million from green bonds to finance its debt, a first for an under-construction storage project globally.

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