Renewable energy projects for 5,314 MW to come up in Andhra

Amaravati, Aug 23: Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy on Wednesday virtually laid foundations for three renewable energy projects for producing 5,314 MW of power in the state's Nandyal district. 

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

He laid foundation stones for 2,300 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 1,000 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 4,500 crore and Rs 11,000 crore creating employment opportunities for 2,300, 1,000 and 2,000 people, respectively. 

APGENCO also signed a MoU with National Hydro-Electric Power Corporation (NHPC) in the presence of the Chief Minister to promote pump storage power projects. 

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 the green hydrogen sector. 

Pump storage power projects will help produce power during peak hours and bring in revolution in green energy which will control the world in future and the state will become part of the green energy revolution, he 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 33,240 MW. 

DPRs 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 1,000 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 2,000 people. 

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 per cent every two years for giving their lands. 

The state is already producing 8,999 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, he said.