Massive Green Energy Push in Andhra Pradesh
The state of Andhra Pradesh has taken a giant leap towards its ambition of becoming a national renewable energy hub by securing fresh investments worth nearly ₹90,000 crore from two of India's leading green energy companies, ReNew Energy Global Plc and Hero Future Energies. This monumental investment was formalized through agreements signed with the state government, marking a significant milestone in India's clean energy transition.
Breaking Down the ReNew Energy Investment
Nasdaq-listed ReNew Energy Global Plc has committed a staggering ₹60,000 crore in new investments, which is in addition to the ₹22,000 crore it had pledged back in May 2024 for a hybrid renewable energy project. The company signed four distinct memoranda of understanding (MoUs) with the Andhra Pradesh Economic Development Board. The ambitious projects outlined in these agreements include:
- A 6 gigawatt (GW) solar ingot-wafer plant to bolster domestic manufacturing.
- A 2 GW pumped hydro storage project to ensure energy stability.
- A 300 kilotonne per annum (KTPA) green ammonia facility, tapping into the future of clean fuel.
- 5 GW of hybrid projects that will combine wind, solar, and battery energy storage systems.
Expressing his confidence in the state, N. Chandrababu Naidu, the Chief Minister of Andhra Pradesh, stated, "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." Sumant Sinha, Founder and CEO of ReNew, emphasized that these initiatives would strengthen India's supply chains, create skilled jobs, and advance the 'Aatmanirbhar Bharat' mission.
Hero Future Energies' Major Commitment
In a parallel development, Hero Future Energies (HFE), the renewable energy arm of the Hero Group, has also signed an MoU with the state government. The company plans to develop 4 GW of renewable energy generation projects across the districts of Ananthapuramu, Kurnool, and Kadapa. This project will be executed in two phases and is expected to generate over 15,000 direct and indirect jobs.
Rahul Munjal, Founder and CMD of Hero Future Energies, credited the state's "proactive policy environment" and robust infrastructure for making it a priority investment destination. The MoU signed by HFE will remain valid for a period of 12 months from the date of signing.
A Vision for a Green Future
This wave of investment is a direct result of the Andhra Pradesh Integrated Clean Energy Policy launched last year, which has set an ambitious target of mobilizing ₹10 trillion in green energy investments by 2029. With ReNew's extensive portfolio of 18.5 GW and HFE's global footprint, Andhra Pradesh is firmly positioning itself at the forefront of India's renewable energy revolution, promising significant economic growth and job creation in the coming years.
