Andhra Pradesh Powers Up: A $1.87 Lakh Crore Green Energy Revolution

NPTC Green Energy Ltd and the New and Renewable Energy Development Corporation of Andhra Pradesh have partnered to invest Rs 1.87 lakh crore in renewable energy projects. This venture aims to position Andhra Pradesh as a leader in renewable energy, generating significant employment and financial benefits over 25 years.

NPTC Green Energy Ltd (NGEL) and the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) have inked a significant joint venture to transform the state's renewable energy landscape. The Rs 1.87 lakh crore investment will foster the development of solar, wind, and hybrid energy projects, targeting 25 GW capacity.

The accord, finalized in the presence of Chief Minister N Chandrababu Naidu and Energy Minister Gottipati Ravi Kumar, promises immense economic impacts. It is projected to create employment for over 1.06 lakh people and gain financial benefits of Rs 20,620 crore over the next 25 years.

As Andhra Pradesh aims to lead in renewable energy initiatives, the partnership will establish 0.5 MMTPA of green hydrogen, ammonia, and methanol, while 10 GW of pumped hydro projects are planned in the state. Naidu emphasized the drive to make Andhra Pradesh a renewable energy pioneer.

(With inputs from agencies.)