Inks projects worth nearly Rs 2 lakh crs with GoAP

NTPC Green Energy Limited (NGEL) has signed a mega deal with the Government of Andhra Pradesh to set up renewable energy (RE) projects close to a staggering amount of Rs 2 lakh crores.

NTPC green energy limited inked a joint venture with NREDCAP i.e. the New and Renewable energy development corporation of Andhra Pradesh limited to set up RE projects across the state.

India’s power generation behemoth NTPC led by its Chairman and managing director Mr Gurdeep Singh along with his top executives called upon chief minister Mr N Chandrababu Naidu in Amaravati and signed the JV. 

As per the government the focus will be on generating 25 GW solar/Wind, 10 GW pumped storage and 0.5 MMTPA green hydrogen.

Commenting on the JV Mr Naidu attributed this mega investment to the implementation of the new ICE policy 2024 of AP which he opined will pave the way for Andhra Pradesh to emerge as a clean energy hub.

‘This historic project will create over 1 lakh jobs and position our state as a renewable energy leader at the forefront of India’s green energy revolution,’ said Mr Naidu. 

The state government’s new integrated clean energy policy, aims to achieve 78.50 gigawatts of solar power, 35 gigawatts of wind power, 22 gigawatts of pumped storage and 1.50 MMTPA of green hydrogen production in the next five years which it expects will lead to huge revenue generation.

Andhra Pradesh’s energy minister Mr Gottipati Ravi Kumar along with special chief secretary to government in the energy department Mr K Vijayanand, IAS and Mr KVN Chakradhara Babu, IAS, VC and MD, NREDCAP were also present on the occasion.

About NGEL

NGEL is an umbrella company for the green business initiatives of NTPC and undertakes projects through organic and inorganic routes and aims to be the flag-bearer of NTPC’s green energy journey to achieve the ambitious target of 60 GW by FY 32.