Reliance Industries Limited, or RIL, has decided on a major MoU with the Andhra Pradesh (AP) government that involves committing investment of ₹65,000 crore for setting up 500 CBG facilities in the state. Entered into in the presence of Chief Minister N. Chandrababu Naidu, this is a giant leap by initiatives taken by AP’s clean energy. CBG plants will be set up over the next 4-5 years: These plants shall provide sustainable energy from coal and create around 2.5 lakh jobs.
The establishment of each proposed facility necessitates an investment of ₹130 crore, employing the available wastelands within the state for their construction. These facilities are integral to Reliance’s extensive strategy to develop 2,000 CBG plants throughout India, with Andhra Pradesh assuming a significant role in this ambitious initiative.
These schemes would significantly contribute to increasing the economy of the state, garnering around ₹57,650 crore in financial gains over the next 25 years, besides share in State Goods and Services Tax besides employment.
Chief Minister Naidu said this project fits into the state’s Clean Energy Policy 2024, for which it envisions ₹10 lakh crore of investments. Minister for Education, IT, and Electronics Nara Lokesh said this would place Andhra Pradesh at the “top in clean energy” development. That MoU also rests on the state’s increasing promise as a great investment destination. With new industrial policy fulfillment, it will pave the way for further growth.
The collaboration established between Reliance and the government of Andhra Pradesh not only signifies the state’s dedication to renewable energy initiatives but also holds the potential to create substantial economic growth and job opportunities. The groundwork for the inaugural biofuel project is set to commence in December in Kanigiri, located in Prakasam district, thereby initiating a transformative pathway for the energy sector within the state.
