Foundation stones laid for three renewable storage power projects in AP

After laying foundation stone for three renewable pumped storage power projects producing 5,314 MW of power in Nandyal district, chief minister Y S Jagan Mohan Reddy said these projects were environment-friendly and would reduce dependence on fossil fuels.

Andhra Pradesh chief minister Y S Jagan Mohan Reddy exuded confidence that the state would become number 1 in the country in the generation of green energy in the coming few years.

Speaking to the officials at his camp office at Tadepalli, after laying foundation stone for three renewable pumped storage power projects producing 5,314 MW of power in Nandyal district, the chief minister said these projects were environment-friendly and would reduce dependence on fossil fuels.

The projects for which Jagan laid the foundation stone include: a 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 1000 MW solar and wind power projects each to be set up by Ecoren Energy at Muddavaram village in Bethamcherla mandal.

The chief minister said these companies would invest ₹10,350 crore, ₹4500 crore and ₹11000 crore, respectively, creating employment opportunities for 2,300, 1,000 and 2,000 persons.

He also released a white paper on the opportunities for investments in the state in the green hydrogen sector. 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.

Detailed project reports are ready for the projects to produce 20,900 MW, out of which companies were permitted to begin work to produce 16,180 MW.

During the meeting, state-run Andhra Pradesh power generation corporation (APGenco) signed a memorandum of understanding (MoU) with National Hydro-Electric Power Corporation (NHPC) in the presence of the chief minister to promote pumped storage power projects.

As per the MoU, the NHPC, in collaboration with APGenco, will set up 1000 MW and 950 MW pump storage units at Yaganti and Kapalapadu respectively with an investment of ₹10,000 crore in partnership. These units will provide jobs to 2,000 persons.

He said besides providing jobs to locals, the companies will also pay a royalty of ₹1 lakh for each MW and pay farmers ₹30,000 per acre every year with a price escalation of five percent every two years for giving their lands.