NGEL inks pact with NREDCAP in Andhra for RE projects

NTPC Green Energy Limited (NGEL), a subsidiary of National Thermal Power Corporation (NTPC) Limited, has joined hands with the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) to set up renewable energy projects worth an investment of Rs 1.87 lakh crore.

The agreement, signed at the State Secretariat, marks a milestone in Andhra Pradesh’s ambitious clean energy journey.

The memorandum of understanding was signed in the presence of Chief Minister N Chandrababu Naidu and Energy Minister Gottipati Ravi Kumar. The initiative is expected to generate employment for over 1,06,250 individuals and deliver an estimated financial benefit of Rs 20,620 crore over the next 25 years.

The high-profile signing ceremony was attended by key figures including Gurdeep Singh, Chairman and Managing Director of NTPC/NGEL, R Sarangapani, Executive Director of NGEL, and K Vijayanand, Special Chief Secretary of Energy, alongside senior officials from NREDCAP and Andhra Pradesh Power Generation Corporation Limited (APGENCO).

The move aligns with AP’s Integrated Clean Energy Policy 2024, which has positioned the state as an attractive hub for renewable energy investments.

Chief Minister Naidu described the joint venture as a pivotal step toward energy security for the state and a significant contributor to India’s renewable energy goals.

He emphasised the importance of green energy in combating climate change and underscored the need to complete the first phase of the project by April 2027.

Under the policy, Andhra Pradesh aims to achieve 78.5 GW of solar power, 35 GW of wind power, and 22 GW of pumped hydro storage, in addition to producing 1.5 MMTPA of green hydrogen within five years.

The joint venture plans to develop up to 25 GW of solar, wind, and hybrid renewable energy projects with or without storage, along with 10 GW of pumped hydro storage.

It also includes the production of 0.5 MMTPA of green hydrogen and derivatives such as green ammonia and methanol, offering strategic support to India’s clean energy objectives.

The Energy Minister lauded the collaboration as a landmark initiative to secure the State’s energy future and contribute to a sustainable, greener economy. Energy Secretary, K Vijayanand, highlighted the project as a model for other states, showcasing the potential of State and Central collaboration in renewable energy.

Under the agreement, NGEL will secure financial and technical support and facilitate approvals from the central government, while NREDCAP will identify sites, provide land, and secure State-level permits.