Andhra Pradesh unveils policy to attract Rs 10 trillion investment for clean energy
Author: PPD Team Date: 18/10/2024
The Andhra Pradesh government aims to secure Rs 10 trillion in investments through its newly launched AP Integrated Clean Energy (ICE) Policy, focusing on solar, wind, and round-the-clock renewable energy projects to achieve net-zero carbon emissions by 2047. Chief Minister N Chandrababu Naidu announced the policy, which offers incentives such as affordable land acquisition and power subsidies for specific sectors.
The ICE Policy includes a target of developing 78.5 GW of solar capacity, 35 GW of wind energy, 22 GW of pumped storage, and 1.5 MTPA of green hydrogen manufacturing. The state also plans to establish 25 GWh of battery energy storage, ethanol and biogas production facilities, and 5,000 EV charging stations. Additionally, Andhra Pradesh is considering 25-30 GW of cleantech manufacturing, expected to create 7,50,000 direct and indirect jobs.