A Memorandum of Understanding (MoU) has been signed by the Andhra Pradesh government and Tata Power Renewable Energy Ltd (TPREL), a division of Tata Power, to jointly investigate prospects for the development of up to 7 GW of renewable energy projects, including solar, wind, and hybrid projects with or without storage solutions. These projects are among the biggest investments in renewable energy in the state, with an anticipated total investment of INR 49,000 crore.
The Integrated Clean Energy (ICE) Policy of Andhra Pradesh, which aims to generate more than 160 GW of renewable energy capacity with an investment potential of INR 10 lakh crore in the state, would establish the specified capacities.
The CEO and Managing Director of TPREL, Deepesh Nanda, stated, "This collaboration will promote widespread renewable adoption and support India's sustainability objectives by utilizing our experience and state-of-the-art technology. The development of up to 7 GW of clean energy projects will expedite Andhra Pradesh's shift to a low-carbon economy and solidify the state's standing as a powerhouse for renewable energy."
Andhra Pradesh's Minister of Information Technology, Electronics & Communications, and Human Resources Development, Nara Lokesh, said, "This partnership signifies a strengthening of the state's long-standing ties with the Tata group. Our goal is to provide long-term economic and environmental benefits for the state while accelerating the adoption of sustainable energy by encouraging investments and innovation. We anticipate that our historic clean energy program would result in 7.5 lakh jobs for Andhra Pradesh residents as well as investments totalling INR 10 lakh crore. "
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