ReNew 'renews' its long-term presence with AP government, inking four fresh pacts
Visakhapatnam: In four separate MoUs signed on Thursday with the Andhra Pradesh Economic Development Board in the presence of Chief Minister of Andhra Pradesh Nara Chandrababu Naidu and IT, Electronics and Communications, Real Time Governance and HRD Nara Lokesh, ReNew Energy Global Plc, a leading decarbonisation solutions company, announced that it will invest Rs.60,000 crore in Andhra Pradesh to set up multiple green energy projects, taking its total fresh investment to Rs 82,000 crore.
The company has already committed Rs 22,000 crore to the state in May to set up one of India’s largest hybrid renewable energy projects in Andhra Pradesh and shared its plans to invest in establishing a 6-GW PV ingot-wafer plant, a 2-GW pumped hydro project, a 300-KTPA green ammonia facility and 5-GW of hybrid projects, including wind–solar and solar–BESS initiatives, in the state.
Sharing his views on the development, Chief Minister N. Chandrababu Naidu, said, “Andhra Pradesh is committed to emerging as a national leader in renewable energy, and partners like ReNew play a crucial role in taking the vision way forward. ReNew’s continued investments reinforce the confidence that global industry leaders have in the state’s policies, infrastructure, and talent. This collaboration will accelerate clean energy deployment, attract high-quality jobs, and contribute meaningfully to sustainable and inclusive growth for the people of the state”
Speaking about the company’s future plans, Founder, Chairman and CEO of ReNew Sumant Sinha, said, “ReNew has a long-standing presence in Andhra Pradesh and with this expansion, we are bringing a fully integrated clean energy value chain to the state, from wafer to large-scale renewable projects and storage deployment. This will strengthen domestic supply chains, create high-quality skilled jobs, and advance India’s Aatmanirbhar Bharat vision. We appreciate the leadership and clear policy direction of the government of Andhra Pradesh which makes the state a natural partner in accelerating India’s energy transition and sustainable economic growth.”
Back in May, ReNew had announced an investment of Rs 22,000 crore to set up one of India’s largest hybrid renewable energy projects in Anantapur district. With a generation capacity of around 2.8-GW, including 1.8-GWp solar and 1-GW wind and a battery energy storage system (BESS) of 2-GWh, this will be one of the largest renewable energy projects at a single location in India.
ReNew already has an operating portfolio of 717-MW of operational wind capacity and 60-MW of solar capacity spread over 10 sites spread across Andhra Pradesh. The company is dedicated to promoting clean energy-led growth in the state, and with the latest announcement, it will generate over 10,000 direct and indirect jobs as it works in tandem with the government of Andhra Pradesh towards achieving the state’s target of generating 78.5-GW of solar, 35-GW of wind power capacity, and 25-GWh of battery energy storage.
