State of Andhra Pradesh
The Adani Group, headed by Gautam Adani, India’s richest man, has decided to invest about Rs 60,000 crore to set up green energy plants in Andhra Pradesh. The Adani Group has entered into an agreement with the Government of Andhra Pradesh to ensure this.
Preliminary talks on the project were held on Sunday during the first meeting with Adani Group Chairman Gautam Adani and Andhra Pradesh Chief Minister Jagan Mohan Reddy at the World Economic Forum in Davos, Switzerland.
Rs 60,000 crore investment
Meanwhile, Gautam Adani and Jagan Mohan Reddy met again on Monday to formalize an investment deal worth Rs 60,000 crore. The agreement was confirmed at the 2nd day meeting.
13,700 MW of electricity
With this investment of Rs 60,000 crore, the Adani Group has decided to set up a 10000 MW solar project and a 3700 MW hydro solar project. This investment has the potential to provide employment to 10000 people.
The MoU was signed in the presence of Chief Minister Jagan Mohan Reddy and Adani Group Chairman Gautam Adani, with Andhra Pradesh Special Chief Secretary (Industry) Karikal Valavan and Adani Green Energy Group member Ashish Raj Vamsi.
Andhra Pradesh Chief Minister Jagan Mohan Reddy hopes that with this investment, Andhra Pradesh will become India’s Green Energy Hop. Industry Minister Gudivada Amarnath has said that the Adani Group has agreed to invest Rs 60,000 crore within 24 hours of Jagan Mohan Reddy’s executive plan presentation.
Jagan Mohan Reddy
Chief Minister Jagan Mohan Reddy recently laid the foundation stone for the world’s largest integrated renewable energy storage power plant (IRESPP) designed to generate about 5230 MW of electricity from hydel, wind and solar in the Kurnool district.