Sun Petrochemicals signed an MoU with the Telangana government to set up huge pumped storage hydro power projects across the state. The project requires massive investment of ₹45,000 crore and has emerged as one of the single biggest investment deals the state government has made till date. State Government unveiled the project in Nagarkurnool district, Mancherial district, and Mulugu district where 7,000 people would be given employment.
Integrated Renewable Energy Development
The projects will comprise cumulative pumped hydro storage capacity of 3,400 MW complemented by integrated downstream solar power plants aggregating to an installed capacity of 5,440 MW. The estimated investment would be ₹45,500 crore; the construction process would generate thousands of jobs and, at the same time, significantly contribute to the socio-economic development of the region.
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Focus on Green Energy Transition
The collaboration, signed during the World Economic Forum in Davos, aims to use renewable energy resources efficiently for energy needs and to support the green energy transition in Telangana. The projects represent the commitment of the state to sustainable development.
Telangana Chief Minister Revanth Reddy said that the projects would have a cumulative capacity of 3,400 MW and supported by downstream integrated solar power plants with a capacity of 5,440 MW. He said that the ambitious venture, estimated to cost ₹45,500 crore, would create more than 7,000 jobs during the construction phase and contribute to the socio-economic development of the state.
Dilip Shanghvi, Managing Director of Sun Petrochemicals and Sun Pharmaceutical Industries, also praised Telangana’s leadership, stating “Telangana is becoming an irresistible force of an investment destination since the last 12 months, under the leadership of Chief Minister Revanth Reddy.”
Industries Minister D Sridhar Babu highlighted that the agreement was the result of nearly a year of dedicated discussions and meetings. He welcomed the collaboration, calling it a testament to Telangana’s proactive approach to attracting investments in renewable energy.