NTPC has signed an agreement with the AP state government to make Rs 1.87 lakh crore investments in AP in renewable energy projects in partnership with the state government. The state will earn a revenue of Rs 20,620 crore in the next 25 years. 1 lakh 6 thousand people will get employment and employment opportunities.
Chief Minister Chandrababu Naidu described this as a key step in making Andhra Pradesh a leader in the energy sector. The renewable energy sector has entered a new era in the state. NTPC, one of the Maharatnas, has come forward to make huge investments in this sector under its ‘NTPC Green Energy Limited’.
To this end, an agreement was signed 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 Chandrababu and Minister Gottipati Ravi.
With the implementation of this agreement, NGEL will invest Rs 1,87,000 crores to set up renewable energy projects in the state. This is likely to provide employment and employment opportunities to about 1,06,250 people in the state. Also, over the next 25 years, the state will benefit from about Rs 20,620 crores in various forms.
Chief Minister Chandrababu said that the state government will always be at the forefront of promoting renewable energy projects like solar, wind, pumped storage, green hydrogen, green ammonia. He made it clear that the future belongs to the renewable energy sector.
The CM said that the first phase of this project should be completed by April-May 2027. He said that his support will always be with the central government, which is working towards the production of pollution-free energy sources.
He explained that 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 said that this target will not only meet the state’s basic energy needs, but will also generate a huge amount of revenue for the state. He said that we are taking very committed and planned steps in the renewable energy sector and will keep the state as a model for the country in this regard.
