NTPC Green and Andhra Pradesh join hands for Rs 1,870 billion RE push
NTPC Green Energy Limited (NGEL) and the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) have formed a joint venture to invest Rs 1,870 billion in renewable energy projects across Andhra Pradesh.
The partnership targets the development of 25 GW of solar, wind, and hybrid energy projects, 10 GW of pumped hydro storage, and the production of 0.5 MTPA of green hydrogen, ammonia, and methanol.
The initiative is expected to deliver financial benefits worth Rs 206.2 billion over the next 25 years. The first phase is scheduled for completion by May 2027.
Energy Minister Gottipati Ravi Kumar emphasized the project’s role in securing Andhra Pradesh’s energy future, while K Vijayanand, Special Chief Secretary for Energy, highlighted its potential to serve as a model for other states.