China’s Sany To Invest 3 Billion In Renewable Energy

China’s Sany To Invest 3 Billion In Renewable Energy

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World’s leading construction machine manufacturer, Sany group of China, has evinced interest in Andhra Pradesh’s renewable energy sector.

Following Chief Minister Chandrababu Naidu’s successful visit in April last, Chinese companies have been showing keen interest in investing in the Sunrise State of Andhra Pradesh. The latest is the Sany Group, which came forward to explore opportunities in the state. A 20-member delegation of Sany Group, led by the company chairman Liang Wengen, met the Chief Minister in Vijayawada and discussed the investment opportunities in the new state.

Sany Group, the world’s leading construction machine manufacturer, deals in vast product range of concrete machinery, road construction machinery, excavators, pile driver machinery, hoisting machinery, wind turbines, port machinery, oil machinery and precision machine tools.
Sany Group has plans to make investments worth 3 billion US dollars in India in the sustainable energy sector. Out of the whooping amount, 600 million dollars (Rs 4,000 crore) will be invested in Andhra Pradesh to set up wind power projects. An MoU was signed in this regard between the two sides which envisages establishment of the proposed projects between 2016 and 2020. These projects will generate 1,100 units of renewable energy annually.

“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,” Liang Wengen said.

The Chief Minister welcomed Sany to bring in their world-class expertise to the state. “The Government will extend all possible help to the investors in establishing their ventures in the state. 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 on power, ports, industrial housing, urban infrastructure, railways and industrialisation.”

Secretary, Department of Energy, Ajay Jain, explained to the delegation the State Government, having already established three mega solar projects, was focussing on renewable energy. After the presentation by the officials, the delegation members clarified with the Chief Minister on various issues. Expressing satisfaction at the interaction with the Chief Minister, the company officials showed readiness for doing business with the state.

The Chief Minister told the delegation members that the company would be welcome to work either with the Government or with the private sector. He wanted them to come up with specific proposals for investments, and added that the Government would be ready to extend all help required. AP was an ideal destination for industrial establishment, given its wealth of natural resources, long coast line, well-established ports and stable and experienced leadership. He explained that already several Chinese companies, such as Xiaomi and Gionee, set up shop in the state. The Chinese are also present in hardware and cement sectors in the state.

The Chief Minister also told them how the state registered 9.17 GSDP in the very first quarter of this year. The Single Desk system introduced recently will ensure that all approvals could be obtained in just 21 days. He told them about the exclusive Desk established in the State Government for Chinese investors.

Sany will establish efficient technologies for offshore wind power generation. It will bring in relevant expertise, operational excellence and global best practices for development of renewable energy in India.

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