NTPC Green energy Ltd (NGEL) has signed a joint venture agreement with New and Renewable Energy Development Corp. of Andhra Pradesh (NREDCAP) to set up renewable energy and storage projects worth an investment of INR 1.87 lakh crore in Andhra Pradesh.
The joint venture will develop 25 GW of solar, wind and hybrid energy projects, 0.5 mmtpa of green hydrogen and derivatives projects, and 10 GW of pumped hydro projects in the state.
Under its Integrated Clean Energy Policy 2024, applicable for a five-year period from 2024-29, Andhra Pradesh aims to add over 160 GW of renewable energy capacity, with a potential to attract investments worth INR 1,000,000 crore.
The policy aims at adding 78.5 GW solar power, 35 GW wind power, 22 GW pumped storage, 25 GWh battery energy storage, and 1.5 mtpa of green hydrogen capacities, in addition to 20 GW of poly-to-PV module, 5 GWh battery, 3 GW electrolyzer, and wind turbine manufacturing capacities. It also targets 1,500 kilolitres per day of ethanol and 10,000 tonnes per day of bio CNG capacities.
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