A meeting of the State Investment Promotion Board (SIPB) held under the chairmanship of Chief Minister Y.S. Jagan Mohan Reddy on Wednesday gave its clearance for the establishment of four pumped storage hydroelectricity projects having an aggregate capacity of 3,700 MW by the Adani Group with a total investment of ₹15,376 crore spread over four tranches starting with an outlay of ₹1,349 crore in 2022–23.
Two projects, with 1,000 MW capacity each, will come up in Kadapa and at Karrivalasa village in Parvathipuram Manyam district. A 1,200 MW project will be set up at Kurukutti in Parvathipuram Manyam district and a 500 MW unit at Peddakotla in Sri Sathya Sai district.
The Government of Andhra Pradesh and the Adani Group had signed a MoU for these green energy projects on the sidelines of the World Economic Forum (WEF) meeting held at Davos recently.