Adani Green has just signed a memorandum of understanding with the government of the state of Andhra Pradesh on the 23rd of May. The deal consists of the parties to construct and operate two massive sustainable projects which will set them back an estimated Rs. 60,000 crores.
This new deal comes after the representatives of Mr. YS Jagan Mohan Reddy and the representatives of the Adani Green Energy met at the World Economic Forum meeting and had lengthy meetings and discussions two days in a row.
Adani Green Energy is a subsidiary of one of the most successful conglomerates in India, Adani Group. The company produces sustainable and renewable energy such as solar and wind energy farms. The company was founded 7 years ago in 2015 and its head office is situated in Ahmedabad, Gujarat.
The deal consists of constructing a massive 3700 mega volt Hydro electricity infrastructure and also construct 10,000 mega watt Solar energy infrastructure in the southern state. Not only does this reduce the stress of non-renewable energy that damages the environment, but also helps in the long run with renewable, and sustainable energy which will be of great benefit in the short and long run. It is estimated that these projects will enable employment opportunities for more than 10k Indians both directly and indirectly. These deals are set to be a turning point in the journey of Andhra Pradesh trying to be more sustainable and eco-friendlier.
R Karikal Valaven, the Special Chief Secretary to the Govt who represented the state with Ashish Rajvanshi the president and head of the conglomerate penned their official documents and put pen to paper to make the deal official with the CM of the state, Mr. YS Jagan Mohan Reddy and Mr. Gautam Adani, who is the chairman of the conglomerate.
The chief marketing officer of Adani Group said that this deal is a massive step in reducing the carbon footprint of the country while at the same time providing economic opportunities to Indians and in turn boosting the economy so that there is sustainable and clean growth in the long term.
This seems like a deal that will not only grow Adani Group as a whole, but will also help the government in providing jobs and also being a front runner in the country in a bid to have a cleaner environment using natural and sustainable resources. It will take a few years to reap the benefits of this deal, but its still a step in the right direction.