NGEL to invest Rs 2 trillion in Andhra for renewable energy projects

NTPC Green Energy Ltd has signed an agreement with NREDCAP to set up renewable energy projects worth Rs 2 trillion, Andhra Pradesh Chief Minister N Chandrababu Naidu said.

 

NTPC Green Energy Ltd (NGEL), the renewable energy arm of power giant NTPC, has recently launched its Rs 10,000 crore Initial Public Offering (IPO) with a price band of Rs 102-108 per share.

 

NGEL has signed a joint venture with NREDCAP (New & Renewable Energy Development Corporation of Andhra Pradesh) to set up renewable energy (RE) projects worth Rs 2,00,000 crore in Andhra Pradesh, Naidu said in a post on X on Thursday.

 

The collaboration will focus on developing 25 GW solar/wind, 10 GW pumped storage projects (PSPs), and 0.5 MMTPA green hydrogen, the chief minister added.

 

"This historic project will create over one lakh jobs and position our state as a renewable energy leader at the forefront of India's green energy revolution," Naidu said.