Andhra Pradesh's Clean Energy Surge: Major Projects Boost Economy and Jobs

The Andhra Pradesh State Investment Promotion Board has approved Rs 44,776 crore in projects, primarily in the clean energy sector, creating 19,580 jobs. The projects include substantial investments by companies such as Navayuga Engineering and Tata Power, focusing on solar and renewable energy to advance the state's economy and employment.

The Andhra Pradesh State Investment Promotion Board (SIPB) has approved a significant Rs 44,776 crore in projects this month, predominantly in the clean energy sector, promising the creation of 19,580 jobs, a state government spokesperson announced.

Key among these is the energy sector, with Rs 42,932 crore allocated, mostly towards solar initiatives. Noteworthy investments include Rs 14,328 crore by Navayuga Engineering and Rs 10,300 crore by Megha Engineering and Infrastructure. Other participants include Tata Power, Ayana Renewable Power, and several others focusing on solar energy projects.

Andhra Pradesh IT Minister Nara Lokesh highlighted the state's new investment-friendly policies under the leadership of Chief Minister Nara Chandrababu Naidu, aiming to position Andhra Pradesh as a leader in renewable energy and fulfilling India's climate goals by 2030. This strategic move is set to boost the state's economy and foster significant employment opportunities.

(With inputs from agencies.)