NTPC and NREDCAP Joint Venture for Renewable Projects in Andhra Pradesh
Key Ideas
- NTPC Green Energy Ltd. and NREDCAP have formed a 50:50 JV company named AP NGEL Harit Amrit Ltd. to develop 25 GW solar/wind, 10 GW pumped storage, and 0.5 MMTPA green hydrogen projects in Andhra Pradesh.
- The joint venture will focus on renewable energy projects like solar, wind, and pump hydro, along with producing green hydrogen and derivatives such as green ammonia and green methanol.
- NGEL has recently formed similar joint ventures with entities in Rajasthan and Uttar Pradesh for renewable energy and green hydrogen projects, showcasing a commitment to sustainable energy development.
- The collaboration aims to contribute significantly to the green energy transition in Andhra Pradesh and promote the growth of renewable energy sources in the region.
NTPC Green Energy Ltd. has partnered with the New and Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP) to establish a joint venture company, AP NGEL Harit Amrit Ltd., with a focus on developing renewable energy projects in Andhra Pradesh. The JV will work on projects including 25 GW of solar/wind, 10 GW of pumped storage, and 0.5 MMTPA of green hydrogen production. NGEL's investment in equity shares reflects a shared commitment to sustainable energy initiatives. This initiative aligns with NGEL's recent collaborations in Rajasthan and Uttar Pradesh for the development of renewable energy and green hydrogen projects. By venturing into green energy solutions like green hydrogen production, the partnership aims to contribute significantly to the state's renewable energy targets and enhance the overall energy transition towards a more sustainable future.