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Amaravati: State mulls generating 120 GW power
State mulls generating 120 GW power
With an ambitious plan to generate 120 GW power in the State through the private sector, the State government announced the power policy here on Friday.
Amaravati: With an ambitious plan to generate 120 GW power in the State through the private sector, the State government announced the power policy here on Friday.
Principal Secretary Srikanth Nagulapalli released the government order with the title Andhra Pradesh Renewable Energy Export Policy-2020.
The object of the policy is to generate 120 GW power through renewable projects like wind, solar and wind-solar hybrid projects by using the Central government schemes like Ultra Mega Renewable Energy Power Parks.
The power policy is intended to attract private investments to the State which would improve the local economy and it would also promote manufacturing facilities of renewable energy equipment in the State.
About five lakh acres of government and private land would be leased out to the power export project developers and the power generated would be exported outside the State.
The power policy claims that priority would be given to the developers intending to set up the projects along with the manufacturing facility in the State. The land procured by the government would be leased out to the project developers for a period of 30 years at the rate of Rs 31,000 per acre per year with an escalation of five per cent every two years.
The private lands taken on lease would be paid Rs 25,000 per acre per year with an escalation of five per cent every two years.
