Andhra Pradesh Chief Minister YS Jagan Mohan Reddy has approved investments of Rs 81,000 crores in the green energy sector in the state. The State Investment Promotion Board (SIPB) meeting was held here on Monday under the Chairmanship of YS Jagan Mohan Reddy
The Chief Minister said that green energy would change the face of the economy of the state which would provide employment opportunities to youth and would also help farmers to increase their productivity and their revenue. Major industries are coming forward in this direction, he said.
In Kopparthi of YSR district, Causis E-Mobility would be investing Rs 386.23 crore of which 286.23 would be for electric buses unit and the remaining Rs 100 crore for basic charging facilities. In the first phase, it is proposed to manufacture 1,000 buses using modern technology with employment opportunities for about 1,200.
Lyfius Pharma would be investing a total of Rs 1,900 crores proving employment to 2,000 people and the company would be ready by April 2024. This is in a bid to reduce the dependency on China on API drugs and the state has allocated 236.37 acres of land.
Inosol Solar Private Limited would invest Rs 43, 143 crores in three phases for the manufacture of metallurgical grade silicon, polysilicon, float glass and other products which will provide direct employment to 11,500 and indirect employment to over 11,000 and the plant will come up at Ramayapatnam near Nellore for which 5,147 acres are allotted. The company will also setup solar power projects of 50 GW and 10 GW.
In Krishna district, Avisa Foods would invest Rs 150 crores for its unit at Mallapalli Mega Food Park providing employment to 2500 workers. The company will start functioning from March 2023 and 11.64 acres were allotted to it.
The Board has approved six green energy projects aggregating Rs 81,043 crores employing 20,130 people. At Ongimalla of YSR district, Astha Green Energy would invest Rs 8,240 crores for an 1800 MW Hydro Storage Power Plant on 1,390 acres which will provide employment to 4,000 and is likely to be complete by December 2029.
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 1200 MW respectively with a cost of Rs 8,855 crores and plans to complete works by 2029. The two plants will employ 1600.
The Board has also given the nod for Pumped Hydro Storage Projects at Owk and Singanamala, 800 MW each, with an investment of Rs 6,315 crores to be invested by Aurobindo Group providing employment to 1600 and the project work will be completed by December 2028.
In YSR district, at Pydiallem Indo Sol Solar would invest Rs 33,033 crore for the generating of 7,200 MW in pumped hydro, solar and wind power projects.
AM Green Energy Private Limited will invest Rs 5,000 crores for 700 MW solar and 300 MW Wind power projects in Kurnool and Nandyal districts.
Greenko would invest Rs 19,600 crores in pumped storage (1680 MW), Solar (2300 MW), and Wind power (250) and provide employment to 4,230 people.
Deputy Chief Minister B Mutyala Naidu, Minister Peddireddy Ramchandra Reddy, Buggna Rajendranath Reddy, G. Amarnath, A Suresh, G Jayaram, CS Sameer Sharma and other officials participated in the meeting.