AP to invest Rs 9.5 lakh crore in energy sector

08 Mar 2023 CW Team

During the two-day Global Investors Summit 2023 in Visakhapatnam on March 3 and 4, top Indian business conglomerates Reliance Industries Limited and Adani Group signed memorandums of understanding (MoUs) with the state government to invest in green energy.

RIL has pledged to invest in the generation of 10 GW of renewable solar energy in the state, while Adani Green Energy, the Adani group's renewable energy arm, will establish units with a combined capacity of 15 GW in Anantapur, Kurnool, Kadapa, Visakhapatnam, and Vizianagaram districts.

During the two-day GIS, Andhra Pradesh signed 42 MoUs in the energy sector worth Rs 9.57 lakh crore. This represents nearly 70% of the total investment proposals of over Rs 13 lakh crore received during the GIS. If these agreements in the energy sector are implemented, they will provide employment for approximately 1.8 lakh people. Even before the GIS, the state had signed MoUs for green energy projects worth Rs 81,000 crore.

The latest mega MoUs at GIS were a testimony to this trend,” said Ramachandra Reddy. NREDCAP vice-chairman and managing director, S Ramana Reddy, said that Andhra Pradesh has already identified pumped hydro storage power projects at 29 locations with a total energy generation potential of 33,200 MW. “Detailed project reports for these locations are under preparation. NREDCAP, on the other hand, has identified renewable energy potential zones, and power evacuation plans are being developed in collaboration with the Central Transmission Utility," Ramana Reddy said. At the GIS's valedictory, Chief Minister YS Jagan Mohan Reddy announced that a high-power committee led by the chief secretary will review the MoUs signed at the GIS on a weekly basis in order to ground the projects as soon as possible.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..