NTPC Green Partners with NREDCAP for ₹1.87 Lakh Crore Renewable Energy Projects.

NTPC Green Energy Limited (NGEL) has partnered with the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) to develop renewable energy projects with a total outlay of ₹1,87,000 crore.

The joint venture, signed in the presence of Andhra Pradesh Chief Minister Chandrababu Naidu, is expected to create 1,06,250 jobs and generate an estimated financial benefit of ₹20,620 crore over 25 years, according to an official statement issued on Thursday.

As part of Andhra Pradesh's Integrated Clean Energy Policy-2024, this investment marks a significant step in positioning the state as a leader in India’s clean energy sector.

The collaboration will focus on establishing up to 25 GW of solar, wind, and hybrid energy projects, with or without storage, 0.5 million metric tonnes per annum (MMTPA) of green hydrogen and derivatives, and 10 GW of pumped hydro projects within the state.

Under the agreement, NTPC Green Energy will provide financial and technical support and secure necessary approvals from the central government. NREDCAP will identify suitable sites, ensure encumbrance-free land, and assist with state-level permits and clearances.

This partnership is poised to drive Andhra Pradesh's clean energy ambitions and contribute significantly to India’s renewable energy goals.

HBL