NTPC Green Energy in Landmark Agreement for Massive Renewable Energy Projects in Andhra Pradesh
Key Ideas
- NTPC Green Energy Ltd (NGEL) partners with NREDCAP for Rs 2,00,000 crore renewable energy projects in Andhra Pradesh, focusing on solar, wind, pumped storage projects, and green hydrogen.
- NGEL has recently launched a Rs 10,000 crore Initial Public Offering (IPO) to support its renewable energy initiatives.
- The collaboration is expected to create over one lakh jobs, positioning Andhra Pradesh as a key player in the green energy revolution in India.
- Nominations for ET MSME Awards are now open until November 30, 2024, offering recognition to outstanding businesses in various categories.
NTPC Green Energy Ltd (NGEL) has made a significant move in the renewable energy sector by partnering with the New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) to establish renewable energy projects totaling Rs 2,00,000 crore in the state. This collaboration, as revealed by Andhra Pradesh Chief Minister N Chandrababu Naidu, will primarily focus on the development of 25 GW solar and wind energy projects, 10 GW pumped storage projects (PSPs), and 0.5 MMTPA green hydrogen infrastructure. The announcement comes on the heels of NGEL's IPO launch worth Rs 10,000 crore. Chief Minister Naidu expressed optimism about this initiative, mentioning its potential to create over one lakh employment opportunities and elevate Andhra Pradesh as a forerunner in India's renewable energy transition. This landmark project not only signifies a massive investment in clean energy but also underscores the state's commitment to sustainable development. In addition to this groundbreaking venture, nominations for the ET MSME Awards have been opened, providing a platform for businesses to showcase their excellence and vie for prestigious accolades in 22 different categories until November 30, 2024.