Amaravati, Jan. 31 -- The Andhra Pradesh State Investment Promotion Board (SIPB) has approved projects valued at Rs 44,776 crore, with a significant focus on clean energy initiatives that promise to create 19,580 new jobs in the state.

The approval, granted during the board's fourth meeting, predominantly favors the energy sector with allocations of Rs 42,932 crore.

Leading the investment commitments are Navayuga Engineering Company Ltd with Rs 14,328 crore and Megha Engineering and Infrastructure Ltd with Rs 10,300 crore.

Several other prominent companies have received clearance for renewable energy projects, including Tata Power Renewable Energy Ltd (Rs 2,000 crore), Ayana Renewable Power Pvt Ltd (Rs 4,435 crore), and Ampin Energy Tr...