Tata Power Renewable Energy (TPREL), a subsidiary of Tata Power, on Friday said it has signed a memorandum of understanding (MoU) with the Andhra Pradesh government to collaborate and explore opportunities in the renewable energy projects in the state.
Under this strategic agreement, TPREL and the Andhra Pradesh government 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.
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The estimated investment in these projects stands at nearly Rs 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, the company said.
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, it said.
The proposed capacities would be set up under Andhra Pradesh’s Integrated Clean Energy (ICE) policy, a clean energy framework that aims for the state to develop over 160 GW of renewable energy with an investment potential of `10 lakh crore.
Deepesh Nanda, CEO & managing director, TPREL, said, “ By leveraging our expertise and cutting-edge technology, this partnership will drive large-scale renewable adoption, and contribute to India’s sustainability goals.
“Developing up to 7 GW 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.”
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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.
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