ReNew Power to set up renewable energy complex in Anantapur
The breakthrough comes following a strategic meeting between Nara Lokesh, Minister for Information Technology, Electronics and Communications, and Sumant Sinha, Chairman & CEO of ReNew, during the World Economic Forum at Davos. This high-level engagement paved the way for ReNew return, ending a six-year investment pause in the State.
The groundbreaking ceremony for the project will be held on Friday, (May 16), by Nara Lokesh.
This is the first major project under the Integrated Clean Energy (ICE) Policy, introduced by the Andhra Pradesh government in October 2024, offering structured incentives and fast-track approvals for clean energy investments.
ReNew was the largest renewable energy investor in the State prior to 2019, with 777 MW installed capacity. However, the company suspended further development due to PPA cancellations during the previous administration. Its return signifies a strong vote of confidence in the policy stability and proactive leadership of Chief Minister N. Chandrababu Naidu.
'This project is a testament to Andhra Pradesh's resurgence as a national leader in clean energy,' said N Lokesh. 'We are building not just capacity, but credibility and global investor confidence.'
The project aligns with Andhra Pradesh's ambitious target of 72 GW renewable energy capacity by 2029, as announced during RE Invest 2024. The past eight months have seen a wave of clean energy investments from major players including, Tata Power – 7,000 MW | Rs 49,000 crore; NTPC (Green Hydrogen) – Rs 1.86 lakh crore; Vedanta's Serentica – 10,000 MW | Rs 50,000 crore; Brookfield – 8,000 MW | Rs 50,000 crore; and SAEL Industries – 1,200 MW | Rs 6,000 crore. Andhra Pradesh is fast emerging as India's most investor-friendly clean energy hub.
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