The world’s largest Integrated Renewable Energy Storage Project (IRESP) will be built in the Kurnool district of Andhra Pradesh with an investment over $3 billion. In 2023, the project will be completed.
On Tuesday, YS Jagan Mohan Reddy, Andhra Pradesh’s Chief Minister performed the first concrete pour ceremony for Greenko Group. The total project capacity is 5230 MW, in which 3000 MW (3 GW) will be generated by solar energy & the rest will be by wind and hydro power with 550mw & 1680 MW, respectively. The generation will be crucial in ensuring India’s energy security and facilitating the global energy transition.
“What Andhra Pradesh is showcasing with this project will be a triggering point for the entire country to follow in the days to come. I am confident that with this project, the usage of fossil fuel would take a backseat and renewable energy front seat,” the Chief Minister remarked.
He claimed that the project would provide cost-effective, flexible, and timeless clean energy, and that certain components of the solar and wind power would be used to pump water back into the reservoir during non-peak hours so that it could be used during peak hours.
The Chief Minister stated that the AP administration was ready to provide ample possibilities to individuals interested in green energy and decarbonizing businesses, noting that the state has a potential of over 33,000 MW.
Anil Chalamasetty, Founder, CEO, and MD of Greenko Group, praised the Chief Minister for bringing the world’s largest IRESP project to Andhra Pradesh. He claimed that the AP administration provided all policy backing, gave the project priority clearances, and promised that it would be completed in three years by 2025.
“It’s a moment of great pride for Greenko that we have pioneered to deliver, ahead of the global ambition of a 24/7 dispatchable renewable energy solution, for industrial decarbonization and energy transition. Andhra Pradesh is set to become the energy storage capital of India. This integrated solution is pivotal for the nation to become energy independent and establishes it as a leader of decarbonized economies,” Mr. Anil further added.
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Resource: Deccan Chronicle
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