ReNew Power to invest Rs 22,000 cr in renewable projects in Andhra Pradesh
ReNew will set up a 1,800 megawatt solar energy plant and another 1,000 MW wind facility along with a battery energy storage system (BESS) of 2 gigawatt hour (GWh) in two phases at Anantapur in Andhra Pradesh, sources with direct knowledge of the matter said.
Vijayawada, May 12 (PTI) ReNew Power, a leading green energy company, is set to invest Rs 22,000 crore in establishing India's largest renewable energy complex in Andhra Pradesh, marking its return to the state after five years.
Groundbreaking for the project is planned for May 16, which is likely to be attended by Nara Lokesh, Minister for Information Technology, Electronics, Communications, and Human Resources Development in the Andhra Pradesh government.
In the first phase, ReNew will set up 587 MW of solar plant and a 250.8 MW wind project alongside a 415 MWh BESS, they said, adding that the remaining capacity would be developed in the subsequent phases.
An email sent to the company for comments remained unanswered.
This would be the largest renewable energy complex in India.
The Andhra Pradesh government approved the projects under the new integrated clean energy policy launched in October 2024.
The investments mark the re-entry of the renewable energy major in Andhra Pradesh after a five-year lull.
The Y S Jagan Mohan Reddy government in the state had in 2019 ordered a review of all electricity tariffs agreements signed with green companies. The renegotiation of the power purchase agreements (PPAs) put at risk about 5.2 GW of solar and wind power projects in the state.
The move hurt 14 major renewable energy companies, including ACME Solar, ReNew Power, Greenko Holding, Axis Wind farms, Azure Power and Mytrah. The firms dragged the state government to court, and the result was a lull in investments.
Sources said no renewable capacity in the state was added from 2019 to 2024.
After coming to power, the government led by N Chandrababu Naidu has made renewed efforts to bring investments and companies to the state.
The re-entry of ReNew, whose 777 MW project was impacted by the PPA review by the previous government, into Andhra Pradesh is being seen as a vote of confidence in the government led by N Chandrababu Naidu. PTI ANZ ANZ SHW
This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
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