The chief minister of Andhra Pradesh has approved pump storage projects proposed by Adani Green Energy with a total capacity of 3,700 MW, giving support to the state’s green energy sector. The chief minister has approved a Rs 157.4 billion investment plan by Adani Group in Andhra Pradesh, which is part of a Rs 600 billion total investment proposal addressed recently at the World Economic Forum event in Davos.
The Adani Group has proposed pump storage projects in four districts across the state, including two in ParvathiPuram, one in YSR Kadapa, and one in Satya Sai. In ParvathiPuram, a 1,200 MW plant in Kurukutti and a 1,000 MW plant in Karrivalasa will be constructed. The project aims to generate 10,000 jobs in four Andhra Pradesh districts. On the other hand, a 500 MW plant at Chitravathi and a 1,000 MW plant will be constructed simultaneously in Gandikota. Adani Group has proposed creating 3,000 jobs in Kurukutti, 3,000 in Karrivalasa, 1,500 in Chitravathi, and 2,500 in Gandikota in each of these districts. In addition, Adani Group has proposed creating 3,000 jobs in Kurukutti, 3,000 in Karrivalasa, 1,500 in Chitravathi, and 2,500 in Gandikota in each of these districts.
The project is scheduled to begin in December 2022 and is expected to be completed by December 2028. While the plants will be spread across 1,490 acres of land, the state government has determined that the land will be leased from farmers in these districts at a cost of Rs 30,000 per acre, which will be transferred to the farmers directly. Meanwhile, the state would get Rs 27.75 billion from the project in terms of stored power and an additional Rs 9.8 billion from the State Goods and Services Tax.