ReNew Energy Global Plc announces fresh investment of ₹60,000 crore in Andhra Pradesh

The Hindu
The Hindu
3h ago 1 view
ReNew Energy Global Plc announced a ₹60,000 crore investment in Andhra Pradesh, enhancing its total commitment to ₹82,000 crore. This investment aims to establish multiple green energy projects in the state.
ReNew Energy Global Plc announces fresh investment of ₹60,000 crore in Andhra Pradesh
A What happened
ReNew Energy Global Plc has announced a significant investment of ₹60,000 crore in Andhra Pradesh, bringing its total commitment in the state to ₹82,000 crore. This investment will facilitate the development of multiple green energy projects, including a 6 GW PV ingot-wafer plant, a 2 GW pumped hydro project, and a 300 KTPA green ammonia facility. The projects aim to enhance the clean energy value chain in the region. Chief Minister N. Chandrababu Naidu emphasized the importance of such partnerships in advancing Andhra Pradesh's renewable energy vision. The investment is projected to generate over 10,000 jobs and support the state's ambitious targets for solar and wind power capacity. ReNew's expansion aligns with India's Atmanirbhar Bharat vision, promoting domestic supply chains and sustainable economic growth.

Key insights

  • 1

    Major Investment

    ReNew's ₹60,000 crore investment boosts clean energy initiatives.

  • 2

    Job Creation

    The projects are expected to create over 10,000 jobs.

  • 3

    Renewable Energy Goals

    Investment supports Andhra Pradesh's renewable energy targets.

Takeaways

ReNew Energy's substantial investment in Andhra Pradesh marks a significant step towards enhancing the state's renewable energy capabilities and creating job opportunities, aligning with broader national energy goals.

Topics

Economy Sustainability Energy