NTPC Green Energy JV Sparks Renewable Revolution in Andhra Pradesh
Key Ideas
- NTPC Green Energy Ltd. forms a JV with NREDCAP to develop 25 GW of solar, wind, and hybrid projects, 10 GW of pumped hydro storage, and 0.5 MMTPA of green hydrogen in Andhra Pradesh.
- The initiative is expected to attract an investment of ₹2,00,000 crore, create employment for 1.06 lakh people, and contribute ₹20,620 crore in financial benefits to the state over 25 years.
- Andhra Pradesh aims to achieve 78.50 GW of solar energy, 35 GW of wind energy, 22 GW of pumped hydro storage, and 1.50 MMTPA of green hydrogen production within the next five years to establish itself as a renewable energy model in India.
- NGEL is investing ₹1.85 trillion to establish a green hydrogen hub in Pudimadaka, Andhra Pradesh, producing 1,500 tonnes of green hydrogen daily and collaborating with global firms for off-take agreements.
NTPC Green Energy Ltd. (NGEL) has partnered with the New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) to establish renewable energy projects in Andhra Pradesh, marking a significant step towards clean energy adoption. The joint venture (JV) aims to develop 25 GW of solar, wind, and hybrid projects, 10 GW of pumped hydro storage, and 0.5 MMTPA of green hydrogen, including derivatives like green ammonia and methanol. This collaboration is set to bring in an investment of ₹2,00,000 crore to the state and generate employment opportunities for approximately 1.06 lakh individuals. Additionally, the JV aligns with Andhra Pradesh's Integrated Clean Energy Policy, targeting ambitious goals of 78.50 GW of solar energy, 35 GW of wind energy, 22 GW of pumped hydro storage, and 1.50 MMTPA of green hydrogen production within the next five years. The state government, led by Chief Minister Nara Chandrababu Naidu, has expressed strong support for these initiatives, emphasizing the role of clean energy projects in creating a sustainable and eco-friendly future. NGEL is further investing in a green hydrogen hub in Pudimadaka, with plans to produce 1,500 tonnes of green hydrogen daily, supported by partnerships with global players for offtake agreements. This project not only contributes to the state's energy security but also positions Andhra Pradesh as a frontrunner in renewable energy development in India.