CM to lay foundation for Rs 5400 cr ReNew Energy Global plant in Anakapalli district
Visakhapatnam: Chief Minister N Chandrababu Naidu will lay foundation stone for Rs 5,400 crore ReNew Energy Global plant in Rambilli of Anakapalli district on Thursday giving a big boost to industrial sector in North Andhra.
As part of the initiative the ReNew Energy Global will set up a 6 GW solar ingot-wafer manufacturing unit with an investment of Rs 4,200 crore and a125 MW hybrid captive renewable power project with an investment of Rs 1,200 crore and both the projects are expected to be completed within the next two years.
With this Anakapalli district is once again set to emerge as a major industrial hub in Andhra Pradesh. Following the foundation laying ceremony of the ArcelorMittal steel plant, which brought national and international attention to the district, another major industrial investment is now poised to strengthen Anakapalli's industrial prominence.
At a time when countries across the globe are accelerating investments in renewable energy production, the coalition government is giving high priority to the clean energy sector. As part of this effort, the government is encouraging large-scale investments in renewable energy projects.
Leading clean energy company ReNew Energy Global has now come forward to establish a major renewable energy plant in Andhra Pradesh with substantial investments. ReNew Energy Global, one of the leading players in the clean energy sector, has already established renewable energy projects with a capacity of 19.2 GW across various parts of India.
The solar ingot-wafer unit and hybrid renewable power project are expected to create employment opportunities for around 2,100 people, providing significant job prospects for local youth.
Chief Minister Chandrababu Naidu is moving ahead with the goal of making Andhra Pradesh a major clean energy hub. The government believes that strengthening the energy sector will drive rapid growth in industrial, agricultural, and service sectors, thereby transforming Andhra Pradesh into a renewable energy powerhouse.
It may be noted that during the CII Partnership Summit held in Visakhapatnam in November last year, ReNew Energy Global announced plans to invest Rs 82,000 crore in Andhra Pradesh in a phased manner.
The company will soon initiate another mega project worth around Rs 22,000 crore in Anantapur district, which is expected to become one of the largest hybrid renewable energy projects in India
ReNew Energy Global had first entered Andhra Pradesh during the Telugu Desam Party government in 2015, setting up a wind project at Kalyandurg. The company currently operates renewable plants in the state with a capacity of 717 MW wind power and 60 MW solar power.
Since the coalition government assumed office, North Andhra has been witnessing a surge in industrial investments. Foundation stones have already been laid for projects by ArcelorMittal and Cognizant, while TCS has already commenced operations.
This month, the foundation stone is also set to be laid for Google's major international investment project, further boosting the region's growth trajectory.
Additionally, the Bhogapuram Airport is expected to become operational soon, while tourism and spiritual development are also progressing rapidly across the region.
As per schedule the Chief Minister will participate in ReNew Energy Global foundation stone ceremony at on Thursday and return to Amaravati at 2.35 p.m.
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