NREDCAP and TPREL sign MoU for 7 GW renewable energy projects
The New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) and Tata Power Renewable Energy Ltd (TPREL) have signed a Memorandum of Understanding (MoU) for the development of 7 GW renewable energy projects in the state.
Vijayawada:The New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) and Tata Power Renewable Energy Ltd (TPREL) have signed a Memorandum of Understanding (MoU) for the development of 7 GW renewable energy projects in the state.
The Mou was signed in Amaravati on Friday in the presence of education minister Nara Lokesh and energy minister Ravi Kumar. Lokesh said the MoU is a key milestone in securing Andhra Pradesh’s energy future.
The signing ceremony was attended by chief secretary K Vijayanand and managing director of NREDCAP Kamalakara Babu. Also present were Deepesh Nanda, MD & CEO of Tata Power Renewable; Amit Mimani, CFO; Taher Lokhanandwala, group head - strategy; and Garima Chaudary from Tata Power Renewables.
The 7 GW renewable energy projects under this MoU are expected to attract an estimated investment of `49,000 crore, creating approximately 33,000 jobs and significantly enhancing the state’s energy infrastructure.
Additionally, these projects will help reduce 318 million tonnes of CO₂ emissions, further strengthening the government’s efforts to achieve its climate goals.
As per the MoU, NREDCAP will play a key role in facilitating the implementation of renewable energy projects. It will assist in identifying, examining, selecting and allotting land for setting up the projects. Additionally, NREDCAP will provide support in obtaining all required statutory clearances for project development.
NREDCAP will play an essential role in developing the required evacuation infrastructure by providing the necessary land and facilities for the seamless transmission of power through the central transmission utility and state transmission utility. The organisation will also explore various financial assistance schemes, including those under the central financial assistance and viability gap funding programmes, to enhance the economic feasibility and sale of power generated from these projects.
Lokesh said the MoU is a key milestone in securing Andhra Pradesh’s energy future and significantly contributing to the country’s overall renewable energy targets. He reiterated the role of green energy initiatives in addressing global challenges such as climate change and pollution.
Energy minister Ravi Kumar appreciated Tata Power Renewable Energy and NREDCAP for their efforts in signing this landmark agreement. He said such initiatives will play a pivotal role in ensuring Andhra Pradesh’s energy security while positioning the state as a clean energy leader on the global stage.
Energy secretary Vijayanand expressed confidence that the MoU between TPREL and NREDCAP would help meet both local and national energy demands in a sustainable manner. With this initiative, Andhra Pradesh is on track to become a national leader in renewable energy, paving the way for a cleaner, greener and energy-secure future”, he said.
