AP energy sector to create 1.8 lakh job opportunities: Peddireddi Ramachandra Reddy

The state has signed 42 energy MoUs worth around Rs. 9.57 lakh crore

Vijayawada: Energy Minister Peddireddi Ramachandra Reddy has said Andhra Pradesh is rapidly establishing itself as a leader in renewable energy. The state has signed 42 energy MoUs worth around Rs. 9.57 lakh crore, which together have the potential to create around 1.8 lakh employment opportunities, he said.
The minister said the climate in Andhra Pradesh is favorable for renewable energy projects. It has abundant solar and wind resources, a supportive government policy and favourable regulatory environment.

“AP has also taken steps to promote energy storage, which is critical for the integration of renewable energy into the grid. Last year, chief minister Jagan Reddy laid the foundation for the integrated renewable energy storage project (IRESP) in Kurnool,” he noted.

The minister said the future of the green energy sector in AP looked bright with the state government’s commitment to promote renewable energy sector through favourable policies. These and the abundance of the resources have attracted leading Indian companies to invest in the green energy sector in Andhra Pradesh,” he said.

Reddy claimed that the state government has been successful in signing MoUs with top industry captains such as RIL chairman Mukesh Ambani and Karan Adani of the Adani Group etc. “The state has entered into 42 energy MoUs at the Vizag Global Investor Summit on March 3 and 4, which were together worth
around Rs. 9.57 lakh crore. These are having the potential to create around 1.80 lakh jobs -- as against total 378 MoUs signed in various sectors, together worth Rs.13.41 lakh crore and having the potential to create 6.09 lakhs jobs,” he said.

VC & MD of NREDCAP, S Ramana Reddy, said that with penetration of more solar and wind power, the requirement for energy storage would go up so as to balance the grid. “The state has already identified pumped hydro storage power projects (PSP) at 29 locations with a total potential of 33,200mw.
DPRs are under preparation.”

Further, NREDCAP has also identified renewable energy potential zones. Power evacuation arrangements are being planned in collaboration with Central Transmission Utility (CTU), he said.

Special chief secretary to energy, K Vijayanand, said the state has already announced a renewable energy export policy-2020 to promote investments in the sector and establish wind solar hybrid projects. CMDs of DISCOMs Padmajanardhana Reddy, Santosha Rao and other senior officials were present.

( Source : Deccan Chronicle. )
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