Andhra Pradesh Launches ₹10 Lakh Crore Clean Energy Investment Policy
Key Ideas
- Andhra Pradesh aims to attract ₹10 lakh crore investment in the clean energy sector, with a focus on solar, wind, and round-the-clock renewable energy projects, aiming for net zero carbon emissions by 2047.
- The AP Integrated Clean Energy (ICE) Policy offers incentives like streamlined land acquisition, power subsidies, and job opportunities for 750,000 workers while promoting renewable energy generation through private sector participation.
- Targets include 78.5 GW of solar capacity, 35 GW of wind energy, 22 GW of pumped storage, and 1.5 million tonnes of green hydrogen production capacity, along with initiatives for battery storage, renewable energy manufacturing, and EV charging stations.
- To support the transition, the state will establish the University for Green Energy and Circular Economy, a Clean Energy Knowledge & Skill Development Center, and provide various incentives like concessional land leases, stamp duty waivers, and capital subsidies.
Andhra Pradesh has unveiled the AP Integrated Clean Energy (ICE) Policy with a bold vision to attract ₹10 lakh crore investment in the clean energy sector. The policy aims to incentivize investments in solar, wind, and round-the-clock renewable energy projects to achieve net zero carbon emissions by 2047. It is projected to create direct and indirect job opportunities for 750,000 workers while fostering renewable energy generation through private sector participation. The targets set by the state include significant capacities for solar, wind, pumped storage, and green hydrogen production, alongside initiatives for battery storage, biofuels, and cleantech manufacturing.
To support skill development, the government plans to establish the University for Green Energy and Circular Economy in collaboration with the Government of India and private industries. The policy offers various incentives such as concessional land leases, stamp duty waivers, capital subsidies, and reimbursement of taxes to attract investments in clean energy projects and manufacturing units. The New and Renewable Energy Development Corporation of Andhra Pradesh will play a key role in facilitating access to land, power evacuation, central government incentives, and necessary approvals.
Overall, the ICE Policy is geared towards aligning with Andhra Pradesh's ambitious goal of achieving net zero carbon emissions by 2047. It is expected to significantly boost the state's renewable energy capacity, create job opportunities, and position Andhra Pradesh as a frontrunner in the energy transition.
Topics
Green Hydrogen
Renewable Energy
Investment
Manufacturing
Skill Development
Green Economy
Employment
Policy Framework
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