NTPC Green Energy and Andhra Pradesh forge Rs 2 lakh crore renewable energy partnership

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tag-partnership tag-renewable-energy tag-sustainable-energy"> <header class="entry-header"> <h1 class="entry-title">NTPC Green Energy and Andhra Pradesh forge Rs 2 lakh crore renewable energy partnership</h1> <div class="entry-meta clear"> <span class="entry-author"><a href="" title="Posts by " rel="author"></a>  </span> <span class="entry-date">November 23, 2024</span> <span class="entry-category"> in <a href="https://constructionbusinesstoday.com/category/news/" title="View all posts in News" >News</a> </span> <span class='sep'>•</span> <span class='entry-comment'><span class="comments-link">comments off</span></span> </div> </header> <div class="entry-content"> <img width="680" height="438" src="https://constructionbusinesstoday.com/wp-content/uploads/2024/11/Shri-Gurdeep-Singh-CMD-NTPC-Limited-NTPC-Green-Energy-Limited-and-Hon.-Chief-Minister-of-Andhra-Pradesh-N.-Chandrababu-Naidu-at-the-signing-ceremony-of-a-joint-venture-JV-between-NTPC-680x438.jpg" class="attachment-single_thumb size-single_thumb wp-post-image" alt="NTPC Green Energy and Andhra Pradesh Forge Rs 2 Lakh Crore Renewable Energy Partnership" decoding="async" fetchpriority="high" /> <p>NTPC Green Energy Ltd (NGEL), a subsidiary of NTPC, has joined forces with the New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) to establish a joint venture (JV) aimed at advancing renewable energy projects in Andhra Pradesh. This landmark initiative is set to attract an investment of Rs 2,00,000 crore, positioning the state as a frontrunner in sustainable energy development.</p> <p>The JV is tasked with developing 25 GW of solar, wind, and hybrid energy projects, alongside 10 GW of pumped hydro storage projects and 0.5 MMTPA of green hydrogen and its derivatives such as green ammonia and methanol. Over 25 years, this collaboration is expected to yield financial benefits worth Rs 20,620 crore for Andhra Pradesh while generating approximately 1.06 lakh jobs.</p> <p>The agreement was signed at the Andhra Pradesh Secretariat, where Chief Minister Nara Chandrababu Naidu hailed the partnership as a milestone for the state’s renewable energy vision. Highlighting the government’s Integrated Clean Energy Policy, Naidu detailed plans to achieve 78.50 GW of solar energy, 35 GW of wind energy, 22 GW of pumped hydro storage, and 1.50 MMTPA of green hydrogen production over the next five years.</p> <p>In addition to the JV, NGEL is making strides in establishing a Rs 1.85 trillion green hydrogen hub in Pudimadaka, Andhra Pradesh. This facility, capable of producing 1,500 tonnes of green hydrogen daily, will operate on a plug-and-play model akin to special economic zones. NGEL is also exploring partnerships with international firms, including Japan’s Toyo Engineering Corp, Norway’s Getek AS, and Australia’s Fortescue, to facilitate the offtake of green hydrogen.</p> <p>Energy Minister Gottipati Ravi Kumar emphasized the JV’s importance for securing Andhra Pradesh’s energy future while contributing to India’s national renewable energy goals. Special Chief Secretary for Energy, K Vijayanand, described the collaboration as a benchmark for other states, underlining its potential to address both local and national energy needs sustainably.</p> <p>The first phase of the JV’s projects is slated for completion by May 2027, marking a significant step in Andhra Pradesh’s journey toward energy security and sustainability. With senior officials from NTPC, NREDCAP, and the state government in attendance, the signing ceremony underscored a shared commitment to leveraging Andhra Pradesh’s natural resources and strategic advantages to solidify its leadership in India’s renewable energy landscape.</p> </div> <span class="entry-tags"> <span class="tag-links"> <a href="https://constructionbusinesstoday.com/tag/andhra-pradesh/" rel="tag">Andhra Pradesh</a> <a href="https://constructionbusinesstoday.com/tag/andhra-pradesh-government/" rel="tag">Andhra Pradesh Government</a> <a href="https://constructionbusinesstoday.com/tag/green-hydrogen/" rel="tag">Green Hydrogen</a> <a href="https://constructionbusinesstoday.com/tag/green-hydrogen-hub/" rel="tag">Green Hydrogen Hub</a> <a href="https://constructionbusinesstoday.com/tag/joint-venture/" rel="tag">joint venture</a> <a href="https://constructionbusinesstoday.com/tag/n-chandrababu-naidu/" rel="tag">N Chandrababu Naidu</a> <a href="https://constructionbusinesstoday.com/tag/ntpc-green-energy/" rel="tag">NTPC Green Energy</a> <a href="https://constructionbusinesstoday.com/tag/partnership/" rel="tag">partnership</a> <a href="https://constructionbusinesstoday.com/tag/renewable-energy/" rel="tag">Renewable Energy</a> <a href="https://constructionbusinesstoday.com/tag/sustainable-energy/" rel="tag">sustainable energy</a></span> </span> </article> </main> </div> <aside id="secondary" class="widget-area sidebar"> <div class="widget const-widget"><h2 class="widget-title"><span>Advertisement</span></h2><a href="https://www.hondaindiapower.com" target="_blank" aria-label="Honda Power Tools"><img src="https://constructionbusinesstoday.com/wp-content/uploads/2023/09/HondaPowerTools.jpeg" alt="Honda Power Tools" width="300" height="300" /></a></div><div id="block-7" class="widget widget_block"> <div style="padding:20px" class="wp-block-tnp-minimal"><p>Subscribe to our newsletter!</p><div><div class="tnp 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