NTPC Green, Andhra Pradesh form JV for solar, wind, green hydrogen projects
NTPC Green Energy Ltd (NGEL) has formed a joint venture with Andhra Pradesh to develop renewable energy projects in the state comprising 25 GW of solar, wind and hybrid projects, 10 GW of pumped storage projects and 0.5 million tonnes/year of green hydrogen and derivatives, which will attract an investment of Rs 2,00,000 crore.
The venture of NTPC’s subsidiary and the New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) is expected to generate employment for around 1.1 lakh people while contributing Rs 20,620 crore in financial benefits to the state over 25 years, a statement from the company and the government said.
Chief Minister N Chandrababu Naidu outlined the broader vision under the state’s Integrated Clean Energy Policy, aiming for 78.5 GW of solar energy, 35 GW of wind energy, 22 GW of pumped hydro storage, and 1.50 million tonnes per year of green hydrogen production in the next five years.
The venture’s first phase of projects is expected to be completed by May 2027.
NGEL is also advancing its green hydrogen hub at Pudimadaka in the state with an investment of Rs 1.85 trillion to produce 1,500 tonnes of green hydrogen per day.
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