AP [email protected]: Jagan pitches for `decarbonized economy'; clocks Rs 16k Cr investment

Andhra Pradesh has bagged Rs 65 000 crore investments for generating 14,000 MW green power and creating 18000 jobs

By Newsmeter Network  Published on  25 May 2022 4:05 AM GMT
AP pavilion@Davos: Jagan pitches for `decarbonized economy; clocks Rs 16k Cr investment

Davos: Andhra Pradesh Chief Minister YS Jagan Mohan Reddy received a pat on his back for the decarbonized economy which he said could be a role model for the world. In his introductory remarks, the Chief Minister said he has recently laid the foundation stone for the world's largest integrated renewable energy storage project at Kurnool, which has a capacity of generating 5230 MW of power in a single location. It includes pump storage solar and wind energy.

With the state having the potential of 33 000 MW, the Chief Minister invited Companies to be part of the decarbonized economy. "Getting into decarbonized mechanisms is the need of the hour, and I extend my invitation to join us in the endeavor," he said.

In compliance with Environmental, Social, and Governance (ESG), the State showcased the 5230 MW Kurnool plant, which has 1650 pump storage capacity with the support of a battery, 350 MW of solar project, and 960 MW of wind power in one location. "The size and scale speak volumes about the direction we are going. At the end of it, you have 1650 MW power that can be given 24 hrs a day, and it is economical, sustainable, and feasible. The simple concept is to generate power from solar and wind and pump the water back", he said. Industry can use this power to create hydrogen, ammonia, desalinate water, and electrolysis in years to come.

Panelists, Amitabh Kant, CEO of Niti Aayog, Aditya Mittal, CEO of ArcelorMittal, Anil Kumar Chalamsetty, MD and CEO of Greenko, and Florence Verzelen, Executive Vice President of Dassault Systems, agreed with Jagan for green hydrogen and decarbonized economy.

AP gets huge investments

Andhra Pradesh has bagged Rs 65 000 crore investments for generating 14,000 MW green power and creating 18000 jobs. Three MoUs were signed in the presence of Chief Minister YS Jagan Mohan Reddy. A green energy-based SEZ would be coming up at Machilipatnam. The State has signed MoUs worth Rs 1.25 lakh crores in the green energy sector alone during the Summit.

Mittal to invest in AP

ArcelorMittal Nippon Steel India has confirmed a proposed investment of Rs 1,000 Crore towards the brownfield expansion of its Vizag pellet plant in Andhra Pradesh. The planned expansion will increase pellet production capacity at Vizag by 35 percent.

The state government has signed an MoU with Aurobindo Reality Infrastructure Private Limited for generating 6,000 MW of green energy. Special Chief Secretary Karikal Valaven signed on behalf of the State, while Aurobindo Director Sharatchandra Reddy signed on behalf of the Company. Another MoU was signed between the State and Greenko for generating 8,000 MW of green power.

The third MoU was signed with Ace Urban Developers for setting up a decarbonized manufacturing unit at Machilipatnam. Karikal Valaven and Anil Chalamsetti were the signatories.

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