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What happened
ReNew has announced a significant investment of Rs 82,000 crore in Andhra Pradesh, targeting the entire renewable energy value chain. This investment will encompass high-tech areas such as solar ingot and wafer manufacturing, project development, and green hydrogen production. Andhra Pradesh's IT Minister, Nara Lokesh, highlighted the importance of this investment, marking ReNew's return to the state after a five-year absence. Previously, on May 16, Lokesh laid the foundation for a Rs 22,000 crore renewable energy project in Anantapur district, which includes a 4.8 GWp hybrid farm with a battery energy storage system. This new investment is expected to bolster the state's renewable energy capabilities and contribute to decarbonisation efforts.
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Key insights
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Major Investment: ReNew's Rs 82,000 crore investment is a significant boost for renewable energy.
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Focus on Green Hydrogen: Investment includes green hydrogen production, enhancing sustainability.
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Return to Andhra Pradesh: This marks ReNew's return to the state after five years.
Takeaways
ReNew's substantial investment in Andhra Pradesh's renewable energy sector highlights the growing focus on sustainable energy solutions and the importance of technological advancements in this field.