Andhra Pradesh cabinet gives nod for 3,700 MW Adani Green Energy projects
Premium- Adani aims to set up these plants at a cost of ₹15,376 crore in four phases and had promised to provide employment to 4,000 people.
Anddra Pradesh Chief Minister Y S Jagan Mohan Reddy-led cabinet on 24 June approved the proposal of Adani Green Energy Limited for setting up pumped hydro storage projects, with a total capacity to generate 3,700 MW of power, at four different locations in the state.
Earlier, Adani came forward to set up these plants at a cost of ₹15,376 crore in four phases. The firm had also promised to provide employment to 4,000 people, according to the Chief Minister’s Office.
On 22 June, the State Investment Promotion Board (SIPB) cleared the proposal, following which the council of ministers in the state cabinet, which met under the chairmanship of Chief Minister Y S Jagan Mohan Reddy, approved it.
According to the proposal, Adani will set up a 1,000 MW plant each in YSR and Parvathipuram Manyam districts, a 1,200 MW plant also in Manyam district and another 500 MW in Satya Sai district. In the first phase -- 2022-23 -- Adani will invest ₹1,349 crore on the projects.
However, official sources said more than 11,000 acres of land would be required for the proposed four plants. Government direction states Adani will have to take the land on lease from farmers and pay a lease amount of ₹30,000 per acre, per annum.
Since the proposed project sites are located in parched regions, the Chief Minister feels leasing of lands would provide a steady source of income to the farmers. "This will be beneficial for the farmers as well as the state," the Chief Minister said at the SIPB meeting.
With inputs from PTI.