ReNew To Invest Rs 60,000 Crore In Entire Renewable Energy Spectrum In Andhra

ReNew Energy Global Plc, a decarbonisation solutions company, on Thursday inked a deal with the Andhra Pradesh government to invest Rs 60,000 crore to set up green energy projects.

ReNew signed four deals with Andhra Pradesh's Economic Development Board in the presence of Chief Minister N Chandrababu Naidu in Visakhapatnam to establish a 6 GW ingot wafer plant, 2 GW pumped hydro project, 300 KTPA green ammonia facility and 5 GW hybrid projects, including wind-solar and solar-BESS (battery energy storage system) initiatives.

"ReNew today announced that it will invest Rs 60,000 crore in Andhra Pradesh to set up multiple green energy projects in the state," said an official release.

Earlier in the day, IT Minister Nara Lokesh said ReNew will invest Rs 82,000 crore spanning the entire spectrum of renewable energy value chain. However, this quantum includes an older investment of Rs 22,000 crore.

On May 16, Lokesh had laid the foundation for the Rs 22,000 crore ReNew renewable energy project in Anantapur district. It encompassed a 4.8 GWp hybrid farm with BESS at Bethapalli village in Gooty mandal.

With the Rs 22,000 crore deal and today's announcement of Rs 60,000 crore, ReNew's total investment pledge in the state rose to Rs 82,000 crore.

Reacting to the latest deal, CM Naidu said, "Andhra Pradesh is committed to emerging as a national leader in renewable energy, and partners like ReNew play a crucial role in advancing this vision."

The latest investment pledge is expected to generate 10,000 direct and indirect jobs as the company partners with the southern state to enable it to achieve 78.5 GW solar energy, 35 GW of wind power capacity and 25 GWh battery energy storage targets.

The IT minister noted that ReNew will invest in high technology areas such as solar ingot and water manufacturing, including project development, green hydrogen and molecules.