Latest news with #ReNewRenewableEnergyComplex
India Today
16-05-2025
- Business
- India Today
Andhra Pradesh bets big on clean energy, targets 72 giga watts by 2029
Andhra Pradesh stepped up its renewable energy drive with the launch of a major infrastructure project and a bold target to become a clean energy leader in Minister for Information Technology and Renewable Energy, Nara Lokesh, on Friday, laid the foundation stone for the ReNew Renewable Energy Complex in Anantapur. The project, valued at Rs 22,000 crore, marks one of the state's largest investments in the sector to green energy firm returned to Andhra Pradesh after six years with the 4.8 GW project, covering solar, wind and battery storage. Speaking at the event, Lokesh described the project as a turning point. 'Today, we are not just laying a foundation stone — we are laying the cornerstone of India's clean energy revolution,' he project is part of a broader plan to scale up renewable capacity across Andhra Pradesh. At the Renewable Energy Invest Summit held in 2024, the state announced its goal of achieving 72 gigawatts (GW) of renewable energy capacity by 2029. Lokesh described the mission as 'bold, urgent, and necessary.'The announcement came a day after the State Investment Promotion Board (SIPB) approved 19 new projects worth Rs 33,720 crore, expected to create 34,621 jobs across sectors like energy, tourism, IT and the new government took office, SIPB has cleared 76 projects worth Rs 4.95 trillion, projected to generate 4.5 lakh jobs.A key focus of this plan is Rayalaseema, a region in southern Andhra Pradesh. Lokesh noted that a majority of the recent clean energy investments are being directed there, positioning the region as a future clean energy the last eight months, Andhra Pradesh has secured several major renewable energy commitments from firms such as Tata Power (Rs 49,000 crore for 7,000 MW), NTPC Green Hydrogen (Rs 1.86 lakh crore project foundation stone of which was laid by Prime Minister Narendra Modi), Vedanta Sarantika (Rs 50,000 crore for 10,000 MW), Sal Industries (Rs 6,000 crore for 1,200 MW) and Brookfield (Rs 50,000 crore for 8,000 MW)Lokesh attributed the state's progress to the leadership of Chief Minister N Chandrababu Naidu. Referring to the Integrated Clean Energy Policy, launched in October 2024, he said it serves as a 'blueprint for India's green revolution.' He praised Naidu's long-term planning, stating, 'Sri Nara Chandrababu Naidu Garu is not merely building roads and infrastructure; he is building highways to the future.''Andhra Pradesh is not just adapting to change — it is driving and creating it,' Lokesh added.
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Business Standard
16-05-2025
- Business
- Business Standard
ReNew kicks off work for Rs 22K cr green energy complex in Andhra Pradesh
Green energy major ReNew on Friday marked its re-entry into Andhra Pradesh after six years, with a Rs 22,000 crore investment to develop the country's largest single-site renewable energy complex in Anantapur. The groundbreaking ceremony for the 4.8-gigawatt project (including solar, wind, and battery energy storage) was conducted by state industries minister Nara Lokesh. This comes a day after the State Investment Promotion Board (SIPB) cleared 19 new industrial projects worth Rs 33,720 crore. These investments are expected to generate employment for 34,621 people across key sectors such as energy, tourism, IT, and electronics. Since the new government took charge, SIPB has cleared 76 projects worth Rs 4.95 trillion so far, creating 450,000 jobs. "This is a new era focused on renewable energy, and Andhra Pradesh is key for India's clean energy journey. This is one of the major investments in the state since it came out with an integrated clean energy policy in October 2024, which ensured single-window clearance and restored investor confidence through contract sanctity," said Sumant Sinha, chairman and chief executive officer of ReNew. The project is expected to be completed in the next two years and is likely to create around 8,000–10,000 jobs over a period of five years. ReNew was the largest renewable energy investor in Andhra Pradesh prior to 2019, with 777 MW installed capacity. However, the company suspended further development due to PPA cancellations during the previous administration. Its return signifies a strong vote of confidence in the policy stability and proactive leadership of Chief Minister N. Chandrababu Naidu, Lokesh said. Highlighting the scale and impact of the project, he added, 'The launch of the ReNew Renewable Energy Complex is a symbol of bold ambition and sustainable progress. With an investment of Rs 22,000 crore, this project is not just about empowering grids — it is about energising hope, fuelling ambition, and lighting the way to a cleaner tomorrow.' The combined capacity cumulatively in all phases includes 1,800 MWp solar, 1 GW wind, and 2,000 MWh BESS. This is the first major project under the Integrated Clean Energy (ICE) Policy, introduced by the Andhra Pradesh government in October 2024, offering structured incentives and fast-track approvals for clean energy investments. Reaffirming Andhra Pradesh's leadership in the sector, Lokesh concluded, 'Every megawatt generated here sends a message to the world: India leads from the front, and Andhra Pradesh stands at the helm.' The project aligns with Andhra Pradesh's ambitious target of 72 GW renewable energy capacity by 2029, as announced during RE Invest 2024. The past eight months have seen a wave of clean energy investments from major players like Tata Power (Rs 49,000 crore), NTPC (Rs 1.86 trillion), Vedanta's Serentica (Rs 50,000 crore), Brookfield (Rs 50,000 crore), and SAEL Industries (Rs 6,000 crore).
