The Memorandum of Understanding (MoU) has been signed between the government of Telangana and Akshat Greentech Private Limited, a subsidiary of Mytrah Energy, for setting up an ultra-modern solar cell and module manufacturing facility in the state. This was inked on the third day of the 2025 World Economic Forum (WEF) at Davos, Switzerland, in the presence of Telangana Chief Minister Revanth Reddy, IT and Industries Minister D Sridhar Babu, and the Telangana Rising Delegation and Girish Gelli, Director of Akshat Greentech represented the company.

The project is likely to incorporate the establishment of a manufacturing facility for the 6.9 GW Solar Cells and 6.9 GW Solar Modules at Hyderabad. It is anticipated to attract investment proposals approximately worth ₹7,000 crores for the generation of direct employment above 2,500 persons based on the promotion of needed employment opportunities at the local level, their subsequent growth, to emerge as one of the forerunners in renewable energy portfolios of Telangana.

Accordingly, the new Telangana government has recently presented it’s Clean and Green Energy Policy that will, hopefully, create favorable conditions for investments in renewable energy in the State. The policy attracts attractive incentives in the form of single-window clearances and strong infrastructure backing for such a project.

The WEF observed Indian states such as Maharashtra, Uttar Pradesh, and Telangana actively scouting for investments across various sectors. It has India's biggest-ever delegation, comprising five union ministers and three state chief ministers, for the 2025 Annual Meeting of the World Economic Forum from January 20 to 24. Eight states are featured at the India Pavilion, close to 100 CEOs and leaders from government, civil society, and the arts have attended the forum to push further the economic growth of India.