- For Corporation in Electrical Power Generation
- To set up Wind and Solar hybrid projects with investment of USD 4800 million (Rs. 32,000 Crore)
The Government of Andhra today signed two MOUs with State Power Investment Corporation (SPIC) & Sany Group of China, one of the largest global manufacturing companies of construction equipment in the presence of Mr. Ajay Jain, Secretary – Energy, I&I & CRDA of Andhra Pradesh Government, Mr. Hou Xuezhong, Executive Director of SPIC Overseas & Mr. Tang Xiuguo. The MOUs were signed today at the CII partnership Summit 2016, in the city.
The first MOU is for the cooperation in electrical power in Andhra Pradesh, and the second one is to set up 5000MW capacity of coal fired USPP, Wind and Solar power projects. As part of the second MOU, SPIC& Sany will make an investment of USD 4800 million (Rs. 32,000 Crore) and create direct/indirect employment for 6,500 people for the period 2016-2020.
In October 2015, Sany signed an MOU with Andhra Pradesh Government to invest USD 600 million (Rs. 4000 crore) to establish Wind Power Projects. Additionally, Sany and SPIC visited Andhra Pradesh to discuss renewable energy and comprehensive development with the State.Currently, Sany employs about 30,000 people globally and 269 people across India. Sany Group entered India market in 2002 and established a manufacturing plant in 2009 in Chakan, Pune. In India, the company operates in Excavator, Cranes, Concrete Machinery, Port Machinery, Road and Renewable Energy businesses.
Commenting on the announcement, Mr.Tang Xiuguo, President, SANY Group, said, “These MOUs mark the next phase of our expansion plans in Andhra Pradesh and in India. The State has a huge untapped wind and solar power potential and we hope to tap that with this collaboration. These investments are a strategic decision towards our Make in India strategy.”
Mr. Chandrababu Naidu, Honorable Chief Minister of Andhra Pradesh, said, “Andhra Pradesh is committed to rapid economic growth and we are happy to join hands with Sany and SPIC to develop electricity infrastructure and implement Power for All (PFA) flagship program of Govt. of India. We welcome Sany to bring in their world class expertise and look forward to this long term collaboration with them and SPIC.”