 "Andhra cabinet approves 3,700 MW Adani Green Energy projects in 4 locations")
The Andhra Pradesh cabinet on Friday approved the proposal of Adani Green Energy Limited for setting up pumped hydro storage projects, with a total capacity to generate 3,700 MW of power, at four different locations in the state.
Adani came forward to set up these plants at a cost of Rs 15,376 crore in four phases and provide employment to 4,000 people, according to the Chief Minister's Office.
The State Investment Promotion Board (SIPB) cleared the proposal two days ago and the council of ministers in the state cabinet, which met under the chairmanship of Chief Minister Y S Jagan Mohan Reddy, approved it.
According to the proposal, Adani will set up a 1,000 MW plant each in YSR and Parvathipuram Manyam districts, a 1,200 MW plant also in Manyam district and another 500 MW in Satya Sai district.
In 2022-23 (first phase), the company will invest Rs 1,349 crore on the projects, according to the CMO.
Official sources said more than 11,000 acres of land would be required for the proposed four plants. As per the state government's direction, Adani will have to take the land on lease from farmers and pay a lease amount of Rs 30,000 per acre, per annum.
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As the proposed project sites are located in parched regions, the Chief Minister feels leasing of lands would provide a steady source of income to the farmers.
"This will be beneficial for the farmers as well as the state," the Chief Minister said at the SIPB meeting.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)