NTPC Green to set up projects worth 1.87 lakh cr in AP
NTPC Green and NREDCAP officials exchange copies of agreement in the presence of Chief Minister N Chandrababu Naidu and energy minister G Ravi Kumar at the Secretariat on Thursday
Vijayawada: The NPTC Green Energy Limited (NGEL) entered into joint venture with New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) for setting up of renewable energy projects with huge investment of Rs 1,87,000 crore in the presence of Chief Minister N Chandrababu Naidu at the Secretariat on Thursday.
The joint venture would create employment for around 1,06,250 people with estimated financial benefit of around Rs 20,620 crore over a period of 25 years.
During the signing ceremony, NREDCAP and NTPC Green signed and exchanged copies in the presence of CM Chandrababu Naidu and minister for energy Gottipati Ravi Kumar, Gurdeep Singh, chairman and managing director, NTPC/NGEL R Sarangapani and other senior officials of power utilities.
Attracted by the recent Andhra Pradesh Integrated Clean Energy Policy-2024, investments are pouring into the clean energy sector of Andhra Pradesh which would establish the state as a leader in clean energy in India in near future.
AP aims to achieve 78.50 gw solar energy, 35 gw wind energy, 22 gw pumped storage and 1.5 MMTPA green hydrogen capacities over the next five years.