VIJAYAWADA: An agreement was signed on a joint venture between the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) and NTPC Green Energy Limited (NGEL) of the state government in the presence of Chief Minister Nara Chandrababu Naidu at the AP Secretariat on Thursday.
Naidu said the NGEL will invest Rs 1,87,000 crore to set up renewable energy projects in the state which enables to provide employment opportunities to about 1,06,250 people and Rs 20,620 crore benefit to the state in various forms over the next 25 years.
Naidu said, “This joint venture is a key step in making Andhra Pradesh a leader in the energy sector. The state government will always be at the forefront of promoting renewable energy projects like solar, wind, pumped storage, green hydrogen and green ammonia. It’s clear that the future belongs to the renewable energy sector and the first phase of this project should be completed by April-May 2027.”
The CM said his support will always be with the Central government, which is working towards the production of pollution-free energy sources. “As part of the Integrated Clean Energy Policy, we have set a target of achieving 78.50 GW of solar energy, 35 GW of wind energy, 22 GW of pumped storage and 1.50 MMTPA of green hydrogen production in the next five years,” he added.
Naidu said the target is not only to meet the basic energy needs of the state but also to generate huge revenue for the state. “We are taking very committed and planned steps in the renewable energy sector and will make the state as an example for the country in this regard,” he added.
The Chief Minister said the joint venture is a key milestone that will secure the energy future of Andhra Pradesh and contribute significantly to the country’s overall renewable energy targets.
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Minister of energy Gottipati Ravi Kumar praised the NREDCAP-NGEL joint venture as a crucial step in securing Andhra Pradesh’s energy future and contributing to national renewable energy goals. He highlighted the significance of such initiatives in creating a cleaner, greener and more sustainable future.
Special chief secretary (energy) K. Vijayanand noted that the partnership between NREDCAP and NGEL would serve as a model for other states, helping to meet both local and national energy requirements sustainably. He added that with this joint initiative, Andhra Pradesh is on track to become a national leader in renewable energy, contributing to both state and national goals for a sustainable and energy-secure future.
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Minister of energy Gottipati Ravi Kumar, NTPC/NGEL chairman & managing director Gurdeep Singh, NGEL executive director (business development) R. Sarangapani, special chief secretary (energy) K. Vijayanand, NREDCAP vice-chairman and managing director and APGenco managing director K.V.N. Chakradhar Babu and other senior officials of power utilities were present on the occasion.
