Tata Power Renewable Energy Limited (TPREL), a subsidiary of The Tata Power Company Limited and a leading player in India's renewable energy sector, has signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh to collaborate and explore opportunities in the development of renewable energy projects in the state.
The MoU was signed at Amaravati in Andhra Pradesh and marks a significant step towards advancing the state's renewable energy ambitions.
Under this strategic agreement, TPREL and the Government of Andhra Pradesh will jointly explore Renewable Energy (RE) development opportunities of up to 7,000 MW (7 GW), including Solar, Wind, and Hybrid projects with or without storage solutions. The estimated investment in these projects stands at approximately upto ? 49,000 crore, making it one of the largest renewable energy investments in the state. This partnership aligns with the State's vision to enhance its renewable energy portfolio and accelerate the transition towards a sustainable and green energy future.
Additionally, beyond contributing to Andhra Pradesh's clean energy targets, this MoU will provide a boost to the local economy, foster skill development and support livelihoods, ultimately contributing to the socio-economic growth of the state.
The proposed capacities would be set up under Andhra Pradesh's Integrated Clean Energy (ICE) Policy, a landmark clean energy framework that that aims for State to develop over 160 GW of renewable energy with an investment potential of ?10 lakh crore.
Speaking on the occasion, Mr. Deepesh Nanda, CEO & Managing Director, TPREL, said, "We are delighted to partner with the Government of Andhra Pradesh in advancing the state's clean energy journey. By leveraging our expertise and cutting-edge technology, this partnership will drive large-scale renewable adoption and contribute to India's sustainability goals. Developing upto 7GW of clean energy projects will further strengthen Andhra Pradesh's position as a renewable energy hub and accelerate its transition towards a low-carbon economy."
Hon'ble Minister for Information Technology, Electronics & Communications, and Human Resources Development of Andhra Pradesh, Shri Nara Lokesh, said, "We are pleased to welcome Tata Power Renewable Energy Limited in advancing Andhra Pradesh's renewable energy landscape. This collaboration marks a deepening of the long-standing relationship between the state and the Tata group. By fostering investments and innovation, we aim to accelerate clean energy deployment while ensuring long-term economic and environmental benefits for the state. We expect our landmark clean energy policy to generate investments of ?10 lakh crore and 7.5 lakh jobs for the people of AP."
As part of the agreement, TPREL will conduct preliminary assessments, feasibility studies, and development activities to explore the viability of these projects. The New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) would be providing requisite support in terms of facilitation, site identification and support in evacuation infrastructure. This initiative is expected to significantly enhance Andhra Pradesh's renewable energy capacity while reinforcing TPREL's commitment to supporting India's clean energy mission.
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