VIJAYAWADA: Chief Secretary KS Jawahar Reddy has said power utilities should continue to attract investments to ramp up renewable energy and energy efficiency at a rapid rate, which will provide cost effective solutions to enhance energy security, boost economy and reduce energy intensity on finances, besides creating a large number of jobs.
Addressing the investment bazaar workshop organised by the AP State Energy Conservation Mission (APSECM) on Friday as part of the National Energy Conservation Week being observed from December 14, Jawahar Reddy, who is also the Chairman of APSECM said the State government is determined to meet any future energy demand and achieve self-sufficiency in power sector.
“Electricity demand driven by economic development, industrial growth, consumer growth and urbanisation is growing rapidly in Andhra Pradesh. The State government is considering energy efficiency as a great tool in providing affordable and sustainable electricity to all,” he said, and appealed to the people to habituate and follow energy and water conservation which is the need of the hour to protect the planet.
The CS said the State government is focusing on green energy investments with an objective of making AP a hub of clean energy. The State has signed MoUs for green energy projects worth Rs 81,000 crore, which indicates that AP will become a pioneer to many States in the country in green energy sector, he explained.
“The government’s push for green energy and increasingly opportune economic situation have developed a significant interest among investors and made AP one of the most attractive renewable energy destination in the country. With the credibility of Chief Minister YS Jagan Mohan Reddy and clear policies for the clean energy revolution in AP will lead to exciting renewable energy prospects for the country in the coming years,” he said.
The CS mentioned the proposal of making a provision to ensure at least 5% interest subvention in the proposed scheme for MSMEs/industries that is planned by the Ministry of Power, which will attract many entrepreneurs to set up energy efficient projects that ultimately meet the State as well as nation’s energy efficiency objectives.
The country will have energy savings investment potential of Rs 10 lakh crore by 2031 in key sectors, including industrial, commercial, domestic, transport, municipal and agriculture sectors, said Bureau of Energy Efficiency (BEE) Director Sunil Khandare.
AP is the first State in the country, which organised an investors’ conference with industries, banks and financial institutions in Vizag recently in which it has identified 30 energy efficiency financing projects. The BEE has estimated more than Rs 412.30 crore energy efficiency investment potential in AP, he revealed. Vijayanand said the State has already announced a renewable energy export policy to promote investments in renewable energy sector to attract investors.