A total of 42 memoranda of understanding (MoUs) with investments totalling Rs 9.57 trillion have been committed in the energy sector during the Global Investors Summit (GIS) in Andhra Pradesh.
The total investment of Rs 9.57 trillion committed in the energy sector, accounts for nearly 70 per cent of the total investment proposals of over Rs 13 trillion tied up during the GIS. The investment in the energy sector are expected to help the state achieve its objective of improving the power supply. The biggest projects for which MoUs were signed during the GIS include Reliance Industries Limited’s proposed generation of 10 GW of solar energy capacity in the state, and Adani Group’s commitment to set up renewable energy units with a 15 GW capacity in Anantapur, Kurnool, Visakhapatnam, Kadapa and Vizianagaram districts.