The chief minister of Andhra Pradesh Y.S.Jagan Mohan Reddy has cleared pump storage projects proposed by Adani Green Energy project with a total capacity of 3,700 MW, in a boost to the green energy sector in the state. On Wednesday, the project was cleared in the State Investment Promotion Board review meeting.
He has cleared the proposal of an investment of Rs 15,740 crore which is a component of the proposed total investment of Rs 60,000 crore by Adani Group in AP that was discussed during the World Economic Forum meet at Davos of late. The project can produce ten thousand jobs across 4 districts of the state.
The project is expected to start by the end of this year and seems to commission in 2028 December. The state government has committed that land will be leased from farmers at the cost of Rs 30,000 per acre in these districts, which will be transferred to the farmers directly, while the plants will be set up spanning across 1,490 acres of land.