Andhra Pradeshis betting big on , which is one of the top focus areas for the state at the upcomingGlobal Investors Summit(GIS) 2023 to be held in Visakhapatnam on March 3 and 4.
The YS Jagan Mohan Reddy-led government is leaving no stone unturned to lure investors into investing in this sunrise sector. The state already boasts of 9GW of renewable power installed capacity, comprising 4.3GW of solar power, 4.1GW of wind power, 444MW of Biomass, 106MW of small hydro, 36MW of municipal solid waste, and 41MW of industrial waste to power Plants.
In fact, renewable energy already accounts for around 36% of the total installed power generation capacity in the state, said AP finance ministerBuggana Rajendranath. With rich renewable energy hubs carrying the potential for setting up 38GW in solar, and 44GW (at 100-meter hub height) in wind, Andhra Pradesh provides a conducive Environment and excellent opportunities for investments in renewable energy, said the minister.
He pointed out that the State Government has already readied plans to facilitate lease of 5 lakh acres of land to renewable energy exports project developers. The state has already rolled in a shelf of seven projects with an estimated potential of 17,800MW to set up solar, wind, and solar-wind hybrid power projects. We are coming up with the worlds largest integrated renewable energy storage project with a capacity of 4,230MW, that entails 2,300MW of solar PV, 250MW of wind, and 1,680MW of pumped storage hydro with storage capacity of 10GWh, explained Buggana.
Apart from renewable energy, the AP government has identified renewable energy, automobiles and electric vehicles, aerospace and DEFENCE, Agriculture-notes-for-state-psc-exams”>Agriculture and Food Processing, healthcare and medical equipment, petroleum and petrochemicals, industrial and Logistics Infrastructure in addition to electronics, IT, maritime, tourism and hospitality as main focus areas for GIS-2023.