VIJAYAWADA: Elaborate arrangements were underway in Nandyal district on Tuesday as Chief Minister YS Jagan Mohan Reddy is set to virtually lay the foundation stones for three renewable energy projects, with a combined capacity of 5,314 MW, on Wednesday.
While Greenko will set up a 2,300 MW solar power project at Junuthala village in Owk Mandal, AM Green Energy will establish a 1,014 MW project, comprising a 700 MW solar power plant and 314 MW wind power plant, at Kandikayapalle village in Panyam mandal. Similarly, Ecoren Energy will set up a 2,000 MW project with solar and wind power plants of 1,000 MW capacity each at Muddavaram village in Bethamcherla Mandal.AP Power Generation Corporation (APGENCO) managing director KVN Chakradhar Babu reviewed the arrangements for the programme with officials of the power sector.
APGENCO, and NHPC to jointly promote power projects
He announced that APGENCO will sign a Memorandum of Understanding (MoU) with National Hydro-electric Power Corporation (NHPC) to promote Pumped Storage Power Projects. Chakradhar Babu said, “During the Global Investors Summit held in April, the CM had taken an initiative to promote investments for renewable energy projects in a big way to meet the commitments under Intended Nationally Determined Contributions (INDC) and reduce carbon emissions.”
Accordingly, Energy Minister Peddireddy Ramachandra Reddy chaired a meeting with officials of power utilities on April 20 and advised them to identify projects and expedite them for clearances, he added. On June 16, the APGENCO Board approved the MoU with NHPC for implementation of the Yaganti and Kamalapadu pumped storage projects and other projects in Phase II, he explained.
Chakradhar Babu said NHPC and APGENCO will implement new pumped storage and renewable energy projects by forming a joint venture company with a 50:50 cost-sharing pattern. On the advantages of the pact, he explained, “Resources of APGENCO and the State government will be optimally utilised, risks and costs will be shared, faster execution of the projects will support capacity addition and grid stability of the State, provide better access to greater resources like technology, knowledge and expertise, including specialised staff of NHPC, and statutory clearances from various Central government departments and agencies will be facilitated on priority.
Asserting that the government’s efforts to strengthen the energy sector will help transform the State into a vibrant economy and industrial hub, the APGENCO MD said, “The State will become a destination for clean and affordable energy.”Further, he also announced that the State government will release a white paper on Green Hydrogen Investment Opportunities in Andhra Pradesh.