NTPC Green Energy signs pact for RE projects worth Rs 2 lakh cr in Andhra Pradesh

New Delhi: NTPC Green Energy Ltd has signed an agreement with NREDCAP to set up renewable energy projects worth Rs 2 lakh crore, Andhra Pradesh Chief Minister N Chandrababu Naidu said.

NTPC Green Energy Ltd (NGEL), the renewable energy arm of power giant NTPC, has recently launched its Rs 10,000 crore Initial Public Offering (IPO) with a price band of Rs 102-108 per share.

NGEL has signed a joint venture with NREDCAP (New & Renewable Energy Development Corporation of Andhra Pradesh) to set up renewable energy (RE) projects worth Rs 2,00,000 crore in Andhra Pradesh, Naidu said in a post on X on Thursday.

The new ICE Policy 2024 continues to attract investments and pave the way for Andhra Pradesh to emerge as a clean energy hub. Today, NTPC Green Energy Ltd. signed a Joint Venture with NREDCAP to set up RE projects worth ₹2,00,000 Cr in Andhra Pradesh. The focus will be on 25 GW… pic.twitter.com/5nznM2DtPo

— N Chandrababu Naidu (@ncbn) November 21, 2024

The collaboration will focus on developing 25 GW solar/wind, 10 GW pumped storage projects (PSPs), and 0.5 MMTPA green hydrogen, the chief minister added.

"This historic project will create over one lakh jobs and position our state as a renewable energy leader at the forefront of India's green energy revolution," Naidu said.