Adani Group, India’s energy giant, has committed the new investment, worth INR 90+ billion (US$1.39 billion) in the state at the CII Partnership Summit 2018, held at APIIC Ground, Harbour Park, Vishakhapatnam, Andhra Pradesh, India from February 24-26, 2018.
Adani Group made the announcement via Twitter on February 24.
A significant share of the investment will be used for the development of more than 1 GW of renewable energy in the southern state of India. How much of a role solar will play, however, was not revealed.
Gautam Adani, Chairman, Adani Group, said, “Technology has the power to transform governance and reduce inequality. Andhra Pradesh is working towards this belief, deploying measures that contribute towards building a New India.”
Adani was one of the key speakers at the inaugural launch of the CII Partnership Summit 2018. During his speech, he said, “Andhra Pradesh is well positioned to lead the growth in India.”