Andhra Pradesh is making significant progress in luring capital for renewable energy and is fighting hard against the states that were formerly recognized as centers for green energy plants. The state was positioned at fourth place in 2022 for green energy generation and plans to lead in the next two to three years since the state government has designed several expensive projects in the renewable energy industry.
Recently, the state cabinet approved large-scale investments in the green energy sector. The state government gave different businesses the go-ahead to establish pumped storage hydroelectricity projects (PSP). In AP, the Adani Group is investing $16,000 crore alone in green energy installations. The Adani Group intends to put power facilities in various areas to produce roughly 3,700mw. Shirdi Sai Electricals will build two plants totaling 1,200 MW in the Kadapa area for the green energy market. These initiatives should be finished in two to five years.
The Centre’s data show that in 2022, AP increased its current green energy power generation by 1,261.54 megawatts.