NTPC Green Energy and NREDCAP Join Forces for Major Renewable Projects

NTPC Green Energy Ltd and NREDCAP have partnered to invest Rs 2 lakh crore in renewable energy projects in Andhra Pradesh. The collaboration aims to develop 25 GW of solar/wind, 10 GW of pumped storage, and 0.5 MMTPA of green hydrogen, creating over one lakh jobs.

NTPC Green Energy Ltd, a renewable energy subsidiary of NTPC, has entered into a significant agreement with NREDCAP to invest in renewable projects totaling Rs 2 lakh crore in Andhra Pradesh. The announcement was made by Chief Minister N Chandrababu Naidu.

The collaboration will spearhead the development of 25 GW solar and wind energy projects, alongside 10 GW in pumped storage, and 0.5 MMTPA in green hydrogen production. This ambitious project aims to drive employment, with projections of creating over one lakh jobs.

Naidu emphasized the project's transformative potential for the region, positioning Andhra Pradesh as a leader in India's green energy revolution. Alongside the agreement, NTPC Green Energy Ltd has also launched a significant Rs 10,000 crore IPO, with the price band set at Rs 102-108 per share.

(With inputs from agencies.)