VIJAYAWADA: Energy minister Peddireddy Ramachandra Reddy said Chief Minister Y.S. Jagan Mohan Reddy signing agreements for huge investments in AP at the World Economic Forum in Davos will strengthen the power sector in state, a key element for development of Andhra Pradesh.
Ramachandra Reddy said MoU signed by AP government with Adani Green Energy is historic as never before, as it would generate 10,000 MW solar power in the state. With this, the Chief Minister has set his sights on providing permanent free electricity to farmers of the state in future as well.
The minister maintained that this would also lead to large-scale development in Rayalaseema region and provide employment opportunities to thousands of youth as well.
He pointed out that Adani group has also come forward to set up a 3,700 MW pumped hydro storage project in Andhra Pradesh. With these two MoUs, Adani Green Energy will invest 60,000 crore in the state. It will also create 10,000 jobs for unemployed in the state.
In this regard, Ramachandra Reddy underlined that CM Jagan is giving highest priority to pollution-free industries in the state. They are part of a modern development formula for AP, which will also improve quality of life. He said special attention is being paid to production of carbon-free fuels.
"With these MoUs, we will not only be able to attract further investments but also meet the growing demand of electricity in the future, apart from creating job opportunities in the state," the minister added.