Chief Secretary K.S. Jawahar Reddy on Friday asked the power utilities to initiate effective measures to attract investments and ramp up production levels in the renewable energy and energy-efficiency sectors.
Addressing an Investment Bazaar workshop, organised by the AP State Energy Conservation Mission (APSECM) as part of the National Energy Conservation Week celebrations from December 14 to 20, Mr. Jawahar Reddy, who is also Chairman of the APSECM, said the move would yield cost-effective solutions to enhance energy security, give a boost to the economy, reduce energy intensity on finances, create jobs and improve environment in future.
The workshop brought together energy experts, solution providers, products and services and key stakeholders from the Government sectors, financial institutions, industry and energy service companies and served as a platform to exchange ideas, best practices and financing options.
‘Conserve energy, water’
Mr. Jawahar Reddy said the demand for electricity was rising rapidly in the State due to economic development, industrial growth and urbanisation, and appealed to the people to make it a habit to follow energy conservation and water conservation practices and protect the planet.
“To make the State a hub of green energy, the government is focused on green energy investments, and the State has signed MoUs related to green energy projects worth ₹81,000 crore,” he informed.
He said the push for green energy had developed a significant interest among investors and had made the State one of the most attractive destinations for renewable energy in the country.
Director of Bureau of Energy Efficiency (BEE) Sunil Khandare said the country had energy savings investment potential worth ₹10 lakh crore by 2031 in key sectors such as industrial, commercial, domestic, transport, municipal and agriculture segments.
‘Vast potential in A.P.’
He said Andhra Pradesh was the first State in the country to organise an investors’ conference recently in Visakhapatnam, which was attended by representatives of industry, banks and financial institutions. The participants identified 30 energy- efficiency financing projects, the highest number among the other states. He said Andhra Pradesh had energy efficiency investment potential of more than ₹412.30 crore.
Special Chief Secretary, Energy, K. Vijayanand, said a renewable energy export policy had been announced to promote investments in the sector. He said, as a developing State, Andhra Pradesh’s energy efficiency potential was largely untapped. The State was given a target of 6.68 million tonne of oil equivalent (Mtoe) energy savings by 2030 and the Investment Bazaar was to attract investments into the State.
The Chief Secretary asked the APSECM to prepare an action plan for effective implementation of the projects that were already identified.
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