Telangana signs MOU with Akshat Greentech to set up solar manufacturing unit
The MOU was formalized on the margins of the World Economic Forum 2025 in Davos, in the presence of Chief Minister Revanth Reddy, IT and Industries Minister D Sridhar Babu and the Telangana Rising Delegation. Akshat Greentech was represented by their Director, Girish Gelli.
ANI
Jan 24, 2025 04:52 IST
Davos [Switzerland], January 24 (ANI): The Telangana government signed a Memorandum of Understanding with Akshat Greentech Private Limited, a group company of Mytrah Energy, to establish a state-of-the-art solar cells and modules manufacturing facility in Telangana, the state's Chief Minister Office (CMO) stated in a release.
The MOU was formalized on the margins of the World Economic Forum 2025 in Davos, in the presence of Chief Minister Revanth Reddy, IT and Industries Minister D Sridhar Babu and the Telangana Rising Delegation. Akshat Greentech was represented by their Director, Girish Gelli.
Akshat Greentech will set up a 6.9 GW Solar Cells and 6.9 GW Solar Modules manufacturing unit in Hyderabad.
The project with a proposed investment of Rs 7,000 crores is expected to create over 2,500 direct jobs, boosting local employment and fostering economic development in the region. It represents a significant milestone in Telangana's journey towards renewable energy leadership.
The Telangana government recently launched an ambitious Clean and Green Energy Policy and remains committed to fostering a conducive ecosystem for investment in renewable energy, offering robust infrastructure, single window clearances, and an attractive package of incentives, according to the CMO release.
At WEF, participating states such as Maharashtra, Uttar Pradesh, Telangana and other South Indian states are attracting investments in diverse sectors.
The Annual Meeting 2025 of The World Economic Forum is taking place at Davos-Klosters from January 20 to 24, 2025.
India Pavilion at the 55th World Economic Forum annual conference 2025 in Davos, Switzerland, features eight states, each seeking investment opportunities from executives of companies worldwide.
India has sent its largest-ever delegation to the World Economic Forum's (WEF) Annual Meeting in Davos, comprising five union ministers and three state chief ministers.
Nearly 100 CEOs and leaders from government, civil society, and the arts are also in attendance at the event. Cutting across party lines, all Union ministers, Chief Ministers, and other state ministers spoke in one voice to promote India's growth story at Davos. (ANI)
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