The total investments, worth INR 1.26 lakh crore, are expected to be infused into the state. A lion’s share of the investment would be reserved for green energy projects.

September 7, 2022

The Andhra Pradesh State Investment Promotion Board (SIPB), led by Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy has given its nod to various investment proposals worth about INR 1.26 lakh crore. These proposed investments are expected to create about 40,330 jobs in the period of the next seven years – as published in a news report.

Out of the total investments, a vast share of INR 81 thousand crore would be earmarked for green energy projects. These sustainable projects would generate about 17,930 MW of power, according to a release put forth by the CM’s Office (CMO). Additionally, setting up two solar power plants, with a total capacity of 60 GW, is also suggested.

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While addressing the meeting, the chief minister asserted that Andhra Pradesh would become a pioneer state in the country in terms of green energy. He also stated that the new investments are going to transform the state’s economy.

As per the release, one of the mega-investment projects, Inosol Solar Private Ltd. would set up its plant on a 5,147-acre site at Ramayapatnam in the SPS Nellore district to manufacture metallurgical grade silicon, polysilicon, float glass, and other products.

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“The company will invest INR 43,143 crore in three phases and provide direct employment to 11,500 people and also create indirect employment for another 11,000. It will also set up solar power plants of 50 GigaWatt and 10 GigaWatt capacity,” the CMO release said.