Andhra Pradesh to bear power burden, boost green energy: Naidu
Chief Minister N. Chandrababu Naidu on Thursday said the State government would not pass on additional electricity costs to consumers and would instead bear the burden while taking steps to reduce tariffs.
He was speaking after laying the foundation stone for two projects of ReNew Energy Global at Z. Chintuvu in Rambilli mandal of Anakapalli district. The company will invest ₹5,400 crore in the projects.
They include a ₹4,200-crore, 6.5-GW solar ingot-wafer manufacturing unit and a ₹1,200-crore, 125-MW hybrid captive renewable power project. The projects are expected to be completed within two years and generate employment for around 2,100 people.
Mr. Naidu said Anakapalli was emerging as a major investment destination and cited recent industrial proposals, including the ArcelorMittal Nippon Steel India project. He invited domestic and international firms to invest in Andhra Pradesh.
He said the State had set a target of producing 160 GW of green energy, with projects of 90 GW already under implementation. Investments worth ₹5.95 lakh crore had been tied up through MoUs, he added.
The Chief Minister said the government had decided to absorb ₹15,795 crore to prevent tariff hikes and reiterated that electricity charges would not be increased.
He also said the Bhogapuram International Airport was expected to become operational in July.