VIJAYAWADA: Andhra Pradesh can become a leader in transition to a low-carbon economy, energy minister Peddireddy Ramachandra Reddy observed during a teleconference held with special chief secretary (energy) K Vijayanand, Transmission Corporation of Andhra Pradesh (APTRANSCO) CMD, B Sreedhar and officials of power distribution companies (Discoms) and Non-conventional Energy Development Corporation of Andhra Pradesh (NREDCAP) on Sunday.
The meeting was held in the background of Andhra Pradesh attracting 42 investment proposals worth around Rs 9.57 lakh crore, creating 1.8 lakh jobs, during the recently concluded Global Investors Summit in Visakhapatnam. The country’s top companies, including Reliance India limited and Adani Green, signed Memoranda of Understanding (MoU) to set up large-scale green energy projects.
Asserting that the State can attract more renewable energy projects, the minister said the government’s push for green energy and increasingly favourable economic situation has developed a significant interest among investors, making AP one of the most attractive renewable energy destinations in the country.
“This Summit is a historic one. Perhaps no State in the country has attracted such huge investments within a short period, particularly in the power sector,” Peddireddy said. Pointing out that the government has announced the constitution of a high power committee, led by Chief Secretary KS Jawahar Reddy, to follow up on the implementation of the MoUs signed at the two-day event, he said, “This shows the commitment and determination of the Chief Minister towards industrialisation of the State for improving the economy.”
Noting that AP is among the few States that have potential for solar, wind, and pumped storage, special chief secretary (energy) K Vijayanand said, “The State government has identified and set aside dedicated land parcels for wind, solar, and pumped storage projects and has already announced a renewable energy export policy-2020 to promote investments in the sector to attract investors by establishing wind-solar hybrid projects that would help strengthen the energy sector in the State.”
VC & MD of NREDCAP, S Ramana Reddy said with penetration of more solar and wind power, requirement for energy storage goes up to balance the grid.“AP has already identified pumped hydro storage power projects (PSP) at 29 locations with the potential to generate 33,200 MW power. Detailed project reports are being prepared.NREDCAP has also identified renewable energy potential zones and power evacuation arrangements are being planned in collaboration with CTU,” he added.