Andhra Pradesh's Ambitious Renewable Energy Venture with NTPC Green Energy Ltd
Key Ideas
- NTPC Green Energy Ltd and NREDCAP have signed a joint venture to develop 25 GW of renewable energy, 0.5 mmtpa of green hydrogen projects, and 10 GW of pumped hydro projects in Andhra Pradesh.
- The investment of INR 1.87 lakh crore will focus on solar, wind, and hybrid energy projects, aligning with Andhra Pradesh's Integrated Clean Energy Policy 2024.
- Andhra Pradesh aims to add over 160 GW of renewable energy capacity, attract investments worth INR 1,000,000 crore, and enhance green hydrogen, battery energy storage, and manufacturing capacities under the policy.
- The agreement signifies a significant step towards sustainable energy development in Andhra Pradesh, under the leadership of chief minister Chandrababu Naidu.
In a significant development for renewable energy in Andhra Pradesh, NTPC Green Energy Ltd (NGEL) and New and Renewable Energy Development Corp. of Andhra Pradesh (NREDCAP) have entered a joint venture agreement to undertake a massive energy transformation project. The agreement, signed in the presence of chief minister Chandrababu Naidu, aims to develop 25 GW of renewable energy projects, 0.5 mmtpa of green hydrogen and derivatives projects, and 10 GW of pumped hydro projects in the state. This joint venture, with an investment of INR 1.87 lakh crore, aligns with Andhra Pradesh's ambitious Integrated Clean Energy Policy 2024, which targets significant capacity additions in various renewable energy sectors over the next five years. The policy envisions the addition of 78.5 GW of solar power, 35 GW of wind power, and enhancements in pumped storage, battery energy storage, and green hydrogen capacities. Additionally, it aims to boost manufacturing capacities for poly-to-PV modules, batteries, electrolyzers, and wind turbines, along with provisions for ethanol and bio CNG production. This collaboration represents a crucial move towards sustainable energy development and economic growth in Andhra Pradesh.
Topics
Policy
Projects
Renewable Energy
Clean Energy
Sustainability
Investment
Development
Joint Venture
Andhra Pradesh
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