Telangana Secures Historic Rs. 45,500 Crore Investment at Davos
Hyderabad, January 22, 2025: Telangana achieved a historic milestone at the Davos World Economic Forum by securing its largest-ever single investment agreement. Sun Petrochemicals, a renowned energy sector company, has committed to investing Rs. 45,500 crores in the state to develop major pumped storage hydropower and solar power projects.
The Memorandum of Understanding (MoU) was signed in the presence of Chief Minister A. Revanth Reddy and Industries Minister Sridhar Babu, along with key government officials, including Special Chief Secretary for Industries Jayesh Ranjan, Special Secretary to the CM Ajith Reddy, and Special Secretary for Investment Promotion Vishnuvardhan Reddy.
Massive Renewable Energy Projects
Sun Petrochemicals plans to establish pumped storage hydropower projects at three strategic locations: Nagarkurnool, Mancherial, and Mulugu districts. These projects will have a combined energy capacity of 3,400 MW and will be integrated with solar power plants boasting a capacity of 5,440 MW.
The initiative is expected to generate around 7,000 jobs during the construction phase, marking a significant boost for local employment and industrial growth in these regions.
A Milestone for Telangana’s Energy Goals
Speaking at the event, Chief Minister Revanth Reddy hailed the agreement as a transformative step in Telangana’s pursuit of sustainable energy growth. “This agreement is a milestone in making Telangana a leader in green energy production. With this investment, we are equipping the state to meet future energy demands while prioritizing clean and green energy,” he said.
The Chief Minister noted that this achievement matches the record-breaking Rs. 40,000 crores investment secured by the Telangana delegation at Davos last year. He emphasized the government’s commitment to promoting renewable energy and positioning Telangana as a preferred destination for green energy investors.
“The partnership with Sun Petrochemicals will not only ensure large-scale job creation for our youth but will also catalyze the industrial development of Nagarkurnool, Mancherial, and Mulugu districts,” he added.
Industry Leaders’ Optimism
Industries Minister Sridhar Babu expressed satisfaction with the outcome of the discussions and negotiations, stating, “This agreement is a testament to the progressive and investor-friendly policies of the Telangana government. It highlights our unwavering commitment to clean energy and sustainable development.”
Dilip Sanghvi, Managing Director of Sun Petrochemicals, expressed confidence in the success of the upcoming projects. “This initiative will set a benchmark in the green energy sector, not just in Telangana but across the country. Under the visionary leadership of Chief Minister Revanth Reddy, Telangana has become a hub for investments, and we are proud to partner with the state government on this transformative journey,” he said.
Telangana’s Green Energy Vision
The Telangana government has been steadfast in its focus on renewable energy, aiming to become a leader in sustainable energy solutions. With this agreement, Telangana has reinforced its reputation as a destination for innovation and investment in clean energy.
The pumped storage hydropower and solar power projects represent a significant step toward achieving the state’s energy targets while promoting industrial and economic growth. The investments are also expected to contribute significantly to the national goal of increasing renewable energy capacity.
This record-breaking agreement is a testament to the Telangana government’s commitment to driving progress and development through sustainable and inclusive policies, marking a new chapter in the state’s journey toward energy self-reliance.
