New Delhi: China's construction equipment manufacturer Sany Group today said that it has entered into an MoU with Andhra Pradesh government for investment of $600 million (Rs 4,000) crore to set up wind power projects.
"Sany Group... today signed an MoU with the Chief Minister of Andhra Pradesh N Chandrababu Naidu for the investment of Rs 4,000 crore for the period 2016-2020 to establish wind power projects," the company said in statement.
These projects will generate 1,100 million units of wind/renewable energy annually, it said.
Sany Group Chairman Liang Wengen said: "We are delighted to announce the next phase of our expansion plans in India with Andhra Pradesh government to generate clean and green energy.
"We also look forward to explore opportunities to manufacture some wind turbines components in the state. This is a strategic investment for us and we look forward to work with the state government on this," Wengen said.
Chief Minister N Chandrababu Naidu said, "We welcome Sany to bring in their world class expertise to establish Wind Energy projects in Andhra Pradesh. We look forward to work closely with them and accomplish this project."
"We are happy to see our Prime Minister's 'Make in India' drive gaining fast adoption by global players like Sany. We have many other opportunities in the area of power, ports, industrial housing, urban infrastructure, railways & industrialisation," Naidu said.
On October 15 Sany Group had said that it would invest $3 billion (Rs 20,000 crore) to develop 2,000 MW of renewable energy projects in India.
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