Andhra Pradesh Chief Minister Y.S. Jagan Mohan Reddy has stressed the need for a decarbonised economy in compliance with the Environment, Social, Governance criteria.
Making the opening remarks at the World Economic Forum (WEF) meet on ‘Transition to Decarbonised Economy’ at Davos on Tuesday, Mr. Jagan Mohan Reddy said that Andhra Pradesh could become the torchbearer of this concept.
“We have launched works for an Integrated Pump Storage Renewable Project in Kurnool. The 5,230 MW project envisages harnessing 3,000 MW solar energy and 900 MW wind power. Andhra Pradesh has the potential of 33,000 MW pump storage capacity. I invite the global players to tap this potential,” said Mr. Jagan Mohan Reddy.
Participating in the session, NITI Aayog CEO Amitabh Kant said that India must bring down the renewable energy and split water, to produce Hydrogen and become the centre of world for green Hydrogen. The cost of green Hydrogen is $4.42 per KG and our challenge is to bring down the cost of green Hydrogen to about $ 2.25.
Heaping praises on Andhra Pradesh for building the integrated renewable energy pump storage facility, Mr. Kant said that 1,650 MW pump storage capacity with solar and wind power was the biggest of its kind. “Andhra Pradesh can be a role model in decarbonised economy for the world,” said Mr. Kant.
Green steel
Aditya Mittal, CEO of ArcelorMittal, described green steel as the future. He said that the company had invested massively in research and development. “We have invested ₹4,500 crore in global renewable projects and are planning to double it,” he said.
Anil Chalamalasetty, CEO of the Greenco Company, said that the company had been investing in renewable energy and had developed wind farms. “We thank India and Andhra Pradesh government for giving us an opportunity to unlock the potential in green energy,” he said.
Dassault Steel executive vice-president Florence also spoke on the occasion.
