 "Andhra to make state renewable energy hub")
As part of this plan, the government has contemplated to achieve 5,000 Mw solar power and 4,000 Mw wind power by 2019 to meet the twin objectives of energy security and clean energy considerations, an official release here said.
Impressed with the new solar and wind policy, KFW, a German Bank, has agreed to sanction Rs 515 crores at concessional rate of interest towards green energy corridor.
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The state is now contemplating to constitute a taskforce for expediting renewable energy projects, it said.
Secretary (Energy) Ajay Jain, discussed with officials concerned the impact of solar and wind projects and the steps to be initiated by power utilities for completion of green energy corridor with an estimated cost of Rs 1,289 crores, with the support of Centre and international financial institutions.
Jain said chief minister N Chandrababu Naidu has thanked the Centre for sanctioning Rs 515 crores grant for evacuation of wind power and green energy corridor. AP Transco and discoms would soon initiate steps to mobilise the balance investments from Power Finance Corporation (PFC) and Rural Electrification Corporation (REC).
The discoms would procure around 2,000 Mw of solar power capacity in a phased manner within the next 4 to 5 years and they would enter a long-term Power Purchase Agreement (PPA) of 25 years with developers who are selected, based on a competitive procurement process.