HIGHLIGHTS
- Andhra CM laid the foundation for the world’s largest integrated renewable energy storage power project
- The project located at Gummitham Tanda is undertaken by Greenko Group
- The project envisages clean energy round the clock
Vijayawada, May 17, 2022: Andhra Pradesh Chief Minister Jagan Mohan Reddy on Tuesday laid the foundation for the world’s largest integrated renewable energy storage power project in Kurnool district. The project located at Gummitham Tanda is undertaken by Greenko Group, which aims at generating 5230 MWs of electricity.
Noting that history is being created with the project, the Chief Minister said, “What Andhra Pradesh is showcasing (with the project) will be a triggering point for the entire country to follow in the days to come. The usage of fuel of fossil fuel would take a back seat and renewable energy in the front seat.”
The CM said that Andhra Pradesh will lead the green energy sector.
PROJECT ENVISAGES CLEAN ENERGY
The Chief Minister also appreciated the Greenko Group for its effort to set up the world’s largest renewable energy storage facility.
“The project envisages clean energy round the clock,” he said.
“We offer an exclusive opportunity for people interested in green power and decarbonizing the economy. Our topography is such that we have the capacity of 33,000 Mega Watt available in the state and this project will show the country how green power can be generated,” Jagan Mohan Reddy said.
ENERGY STORAGE CRITICAL
The project would help decarbonization to the tune of 50 GWh of electricity, daily offsetting 15 million tonnes of CO2 emissions per annum, which is equivalent to replacing 5 million cars with electric vehicles or 2.5 million hectares of afforestation.
Energy storage is essential and critical for India in meeting emission goals for the Paris Climate Accord and 500 GW RE capacity targets by 2030 according to the reports published in indiatoday.in.
The project will enable the lowest cost green hydrogen and green molecule production and use, thereby reducing the import bill of USD 25 Billion for LNG. The project entails an investment of over USD 3 Billion and has raised USD 750 Million of Green Bonds to finance the Debt of the Project, a first for an under-construction storage project globally which opens up the bond markets to finance the RE and sustainable growth of the country.
