Adani Group to invest Rs 12,400 crore in Telangana in various sectors

Adani Group to invest Rs 12,400 crore in Telangana in various sectors

The Adani Group, an Indian multinational conglomerate originally started in Mumbai reacted to the CMO of Telangana and announced its investment of 12,400 Cr over a span of next 10 years. The group on Wednesday signed four memoranda of understanding (MoUs) with the Telangana government at the World Economic Forum in Davos, in the presence of Telangana Chief Minister A Revanth Reddy and Adani Group Chairman Gautam Adani. Table of Contents The green energy projects Adani Green Energy Ltd, the green energy arm of the Adani Group is all set to invest Rs 5,000 crore into setting up two pumped storage projects of 850 MW and 500 MW at Koyabestagudem and Nacharam. They are pumped storage project types of hydroelectric power generation where the water stored in reservoirs generates electricity during demand peaks. They also help in balancing the grid and integrating renewable energy. The two projects will be first of its kind in Telangana and takes Telangana closer to achieve its target of 10,000 M…