Andhra Pradesh State Investment Promotion Board (SIPB) has given its nod for investments worth Rs 239.85 billion in the state.
Among other projects, it includes approval given for pumped hydro storage projects to be set up by Adani Green Energy Limited (AGEL) and Shirdi Sai Electricals. AGEL will set up 1,600 MW of pumped hydro storage power projects at an investment of Rs 63.30 billion. The company will set up a 1,000 MW plant in Pedakota of Alluri Sitarama Raju district, and a 600 MW plant at Raiwada in Anakapalli and Vizianagaram districts. The project is proposed to commence work in December 2024 and is set to be commissioned within four years. It will produce around 4,196 MUs of electricity per year. Further, SIPB has also cleared Rs 88.55 billion hydro storage projects by Shirdi Sai Electricals Limited, which will set up two units with an aggregate capacity of 2,100 MW power. The company will set up a 1,200 MW project at Yerravaram and a 900 MW project at Somasila. The work is expected to commence in July 2023 and will be completed in phases by December 2028.