AP mulls mechanism to ground MoUs in energy sector
With support from the concerned departments, the state is looking at realising investments worth Rs 9.57 lakh crore with a potential to create 1.8 lakh job opportunities
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Vijayawada: The Energy Department of Andhra Pradesh on Sunday declared that it is fully focusing on realisation of the MoUs entered at Global Investors’ Summit envisaging investments worth around Rs 9.57 lakh crore with a potential to create around 1.8 lakh job opportunities.
Accordingly, the department is planning to frame a special mechanism to achieve this gigantic task of realisation of all the investments in the energy sector in a phased manner by taking support from the concerned departments. GIS has attracted huge investments in the energy sector that is expected to help in enhancing the green energy at a faster pace.
This is expected to give lucrative solutions to strengthen energy security, reduce energy intensity on finances and protect the environment in the coming years. This was stated at a review with power utilities on the investments in the energy sector by Special Chief Secretary K Vijayanand on Sunday. During the discussion, he emphasised the need to focus on realisation of the 42 MoUs signed for energy sector at the GIS summit in March-2023 which includes investments for 25 GW renewable energy capacities in the districts of Anantapur, Kurnool, Kadapa, Visakhapatnam and Vizianagaram. The State has entered into MoUs prior to the GIS for green energy projects worth Rs 81,000 crore.
“Materialising and grounding all these investments will make the energy sector in Andhra Pradesh create new growth opportunities, job creation and sustainable development,” Vijayanand said.
During the review he said “the State has a congenial atmosphere for renewable energy generation with plenty of solar and wind energy resources and a transparent policy and regulatory environment. The State has already made advancement in promoting renewable energy sources through renewable energy export policy.”
He informed that the government is taking measures to establish hybrid pumped hydro storage projects, development of solar parks and promotion of rooftop solar installations.
