Essel Group, India's leading business conglomerate, will invest over Rs 75,000 crore over the next five years towards developing clean energy projects across various states in the country. The company on Monday presented a Green Energy Commitment Certificate was presented to prime minister Narendra Modi to generate 12,000 megawatt (mw) of renewable energy.
The overall plan will see Essel group setting up 7,500 mw of solar power, 4,000 mw of wind energy and 500 mw of waste to energy projects in the country. The energy projects will attract investments with an aim to create sustainable economic growth and meet the green energy requirement of the country while also realising the 'Make in India' campaign of the government.
Ashok Agarwal, CEO and whole-time director, Essel Infra and Utilities, said, "Renewable energy is the key for the economic growth of our country. It will aid clean energy initiative of the government. Taking the lead, Essel group intends to facilitate India's green energy requirement by delivering sustainable energy and creating value to empower people, communities and businesses. For Essel group this is a step forward towards developing eco-friendly energy sources for green smart cities of tomorrow and make 'Swachh Bharat Abhiyaan' a reality with waste to energy initiatives."
Essel group has plans to set up 7500 mw of solar and 4,000 mw of wind energy projects in Madhya Pradesh, Andhra Pradesh, Telangana, Rajasthan, Karnataka, Tamil Nadu, Uttar Pradesh and Maharashtra while 500 mw waste to energy projects will be implemented in states including Madhya Pradesh, Gujarat, Odisha, Karnataka, Tamil Nadu, West Bengal, Haryana, Punjab. While generating clean energy, the projects will also have the potential to create more than 15,000 direct and indirect jobs in these states.
Agarwal said, "The renewable energy will give a stimulus to the economic growth and lower down country's import bill. These projects will help India to establish its position as the leading player in renewable energy and illustrate the country's commitment towards sustainability, inclusiveness and economy with low carbon footprints."
Essel Infraprojects is currently scouting for long-term international technology partners in solar and wind power space from solar module, and wind turbine manufacturing background.
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