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The Andhra Pradesh State Investment Promotion Board (SIPB) approved investments worth Rs 81,000 crore in the green energy sector.

The Andhra Pradesh State Investment Promotion Board (SIPB) approved investments worth Rs 81,000 crore in the green energy sector, among others. Chief Minister YS Jagan Mohan Reddy, chaired a meeting of the SIPB. He said green energy will change the face of the state’s economy. 

In Kopparthi of YSR district, Causis E-Mobility will invest Rs 386.23 crore of which Rs 286.23 crore will be for the electric buses unit and the remaining Rs 100 crore for basic charging facilities. In the first phase, the unit will manufacture 1,000 buses and create employment opportunities for over 1,200 people, said a SIPB source. According to Industries Minister G Amarnath, the Board has given approval for six green energy projects totalling Rs 81,043 crore. These initiatives will provide employment to 20,130 people.  

At Ongimalla in the YSR district, Astha Green Energy is slated to invest Rs 8,240 crore for a 1,800 MW Hydro Storage Power Plant spread over 1,390 acres. The project, which will provide employment to 4,000 people, is likely to be completed by December 2029.  

In YSR district’s Pydiallem, Indo Sol Solar will invest Rs 33,033 crore to generate 7,200 MW in pumped hydro; solar, and wind power projects. Whereas AM Green Energy Private Limited will invest Rs 5,000 crore for 700 MW solar and 300 MW wind power projects in Kurnool and Nandyal districts. Greenko has pledged to invest Rs 19,600 crore in pumped storage (1,680 MW); solar (2,300 MW), and wind power (250 MW) and provide employment to 4,230 people in the Kurnool district. 

Board officials said Lyfius Pharma will invest a total of Rs 1,900 crore to set up a unit in the YSR district.  

Board officials said Lyfius Pharma will invest a total of Rs 1,900 crore to set up a unit in the YSR district, which will be ready by April 2024. The unit will provide employment to 2,000 people. This is a bid to reduce the dependency on China for API drugs and the state has allocated 236.37 acres for the purpose, a government source said. 

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