Andhra CM lays stone for 3 renewable energy projects with 5,314 MW capacity

Amaravati (Andhra Pradesh) [India], August 23 (ANI): Andhra Pradesh Chief Minister YS Jagan Mohan Reddy on Wednesday virtually laid the foundation stone for three renewable energy projects for producing 5,314 MW of power in Nandyala district, a press note said. 

Andhra Pradesh Power Generation Corporation (APGENCO) also signed a MoU with the National Hydro-Electric Power Corporation (NHPC) in the presence of the Chief Minister to promote pumped storage power projects, it read. 

Speaking on the occasion after laying foundation stones from the Camp Office here on Wednesday, the Chief Minister said the projects will help Andhra Pradesh become number one in green energy.

He laid the foundation stones for 2300 MW solar power project to be set up by Greenko at Junuthala village in Owk mandal, 700 MW solar and 314 MW wind power plants to be set up by AM Green Energy at Kandikayapalle village in Panyam mandal and 1000 MW solar and wind power projects each to be set up by Ecoren Energy at Muddavaram village in Bethamcherla mandal.

These companies will invest Rs 10,350 crore, Rs 4500 crore and Rs 11000 crore creating employment opportunities for 2300, 1000 and 2000 persons respectively.

The Chief Minister said that pump storage power projects are environment-friendly and will reduce dependence on fossil fuels.

He also released a white paper on the opportunities for investments in the State in green hydrogen sector.

“Pump storage power projects will help us produce power during peak hours and bring in a revolution in green energy which will control the world in the future and the State will become part of the green energy revolution” the Chief Minister said. 

In all, 37 locations have been identified to start pump storage units to produce 41,000 MW and feasibility studies were completed on 29 projects for producing 33240 MW.

Detailed Project Reports (DPR) are ready for projects to produce 20,900 MW, out of which companies were permitted to begin work to produce 16, 180 MW.

As per the MoU between APGENCO and NHPC, the two will set up 1000 MW and 950 MW pump storage units at Yaganti and Kapalapadu respectively with an investment of Rs. 10,000 crore in partnership. These units will provide jobs to 2000 persons.

APGENCO and NHPC will also set up pump storage power units worth 2750 MW in three more locations for which feasibility studies are underway, he said.

Besides providing jobs to locals, the companies will also pay a royalty of Rs 1 lakh for each MW and pay farmers Rs. 30,000 per acre every year with a price escalation of five percent every two years for giving their lands. The State is already producing 8999 MW of solar and wind power. The agreement with Solar Energy Corporation of India to get power at Rs. 2. 49 per unit will help in the free power to farmers during day time for another 25 to 30 years.

Energy Minister P. Ramachandra Reddy, Finance Minister B. Rajendranath, Deputy Chief Minister (Endowments) K. Satyanarayana, CS Dr KS Jawahar Reddy, APGENCO MD KVN Chakradhar Babu, NREDCAP VC & MD S. Ramana Reddy, British Deputy High Commissioner Gareth Wynn Owen, Deputy Head Mission (UK Government) Varun Mali, Senior Advisor to UK Government Nishnat Kumar Singh, NHPC Finance Director RP Goel, Greenko Vice President N. Seshagiri Rao, AM Green Energy Business Head Samir Mathur, Ecoren Energy CMD Y. Lakshmi Prasad and senior officials were present.