NGEL and NREDCAP Forge Mega Green Energy Pact Worth INR 1.87 trillion

In a groundbreaking move towards renewable energy leadership, NTPC Green Energy Ltd (NGEL) and the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) have joined forces to establish renewable energy projects worth ₹1.87 trillion in Andhra Pradesh. The joint venture, formalized on Thursday in the presence of Chief Minister N Chandrababu Naidu and Energy Minister Gottipati Ravi Kumar, promises transformative economic and environmental benefits for the state.

Massive Renewable Energy Projects

Under the collaboration, Andhra Pradesh will witness the development of 25 GW of solar, wind, and hybrid energy projects, along with the production of 0.5 million metric tons per annum (MMTPA) of green hydrogen, ammonia, and methanol.

Hydropower Expansion

The state will also see the establishment of 10 GW pumped hydro storage projects, addressing energy storage needs and enhancing grid stability.

Economic and Employment Impact

The ambitious projects are projected to generate 1,06,000 jobs, bringing substantial socio-economic upliftment. Over 25 years, the state will reap a financial benefit of ₹20,620 crore from these ventures.

Sustainability Leadership

Speaking on the occasion, Chief Minister Naidu emphasized the transformative impact of the agreement:

"This joint venture will position Andhra Pradesh as the frontrunner in renewable energy, contributing to the state and national energy goals."

Energy Minister Ravi Kumar called it a “crucial step to secure Andhra Pradesh's energy future.”

Phase-wise Development Plans

The joint venture's first phase is slated for completion by May 2027, with Chief Minister Naidu setting a clear timeline for the state’s green energy ambitions.

Special Chief Secretary for Energy, K Vijayanand, highlighted the collaboration’s significance as a model for other states, demonstrating how strategic partnerships can meet local and national energy demands sustainably.

A Major Boost for India’s Green Energy Goals

This partnership aligns with India’s vision of achieving a renewable energy capacity of 500 GW by 2030, enhancing energy security while mitigating carbon emissions. With Andhra Pradesh at the helm of renewable innovation, the state is poised to lead the nation in green energy transformation.