Andhra Pradesh govt seeks foreign investment in renewable energy sector

19 Jul 2022 CW Team

The Andhra Pradesh energy department is exploring new investment avenues for renewable energy projects that it has planned on a massive scale. The state has identified 29 feasible locations for pumped hydro storage projects with a total capacity of 33 GW on approximately 1.45 lakh acres of land in the districts of Kadapa, Kurnool, and Anantapur.

According to preliminary estimates, the state can lease out approximately 5 lakh acres of land for these projects, equipment manufacturing facilities, and so on. The government reached out to the Western Australian government delegation in Visakhapatnam on Saturday to explain the state's emphasis on renewable energy.

Prudhvi Tej, joint managing director of APTransco, stated that Andhra Pradesh has prepared a "renewable energy export policy 2020" to encourage investments in the renewable energy sector. "This is intended not only to strengthen the energy sector, but also to generate revenue, create local employment, and raise the living standards of the people of the state." "This will also help Andhra Pradesh's industrial and economic development," he said, adding that under the policy, renewable energy can be produced and exported to other states without incurring any obligations to the state discoms.

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