One of the leading independent power producers in India’s renewable energy sector has announced a huge investment plan in the state of Andhra Pradesh.
Mytrah Energy announced that it will invest Rs 13,000 crore ($1.9 billion) to set up wind and solar power projects in the south Indian state of Andhra Pradesh. The company signed a memorandum of understanding with the state government in this regard at the Partnership Summit held recently.
The investment will split between wind and solar power technologies with 1,000 megawatts planned installation for each. The company expects generation of 4,000 new jobs from this venture.
The projects will be spread across eight districts in the state, including five districts that will host wind energy projects for the first time. The company hopes to have the projects operational within three years of getting all government approvals.
In October last year, Mytrah Energy joined an elite group of project developers that own and operate 1,000 megawatts of renewable energy capacity in India. The company had earlier set the target to achieve this milestone by mid-2017.
Mytrah Energy Limited has a portfolio of wind power generation assets across 15 projects and 8 states. The Company has more than 200 wind masts installed across multiple states in India, providing a pool of information from which to select its future projects. Mytrah Energy currently has an active development pipeline of about 3,000 megawatts of wind and 500 megawatts of solar.