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The NPTC Green energy Limited (NGEL) has entered a joint venture with New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) for projects at an outlay of ₹1,87,000 crore.
In a statement issued on Thursday, it said that the joint venture would create employment for 1,06,250 people with an estimated financial benefit of ₹20,620 crore over a period of 25 years.
The JV was signed in the presence of Andhra Pradesh Chief Minister Chandrababu Naidu.
Following the recent Andhra Pradesh Integrated Clean Energy Policy-2024, investments have been pouring into the State’s clean energy sector which would establish it as a leader in clean energy in India in near future, an official statement said.
NTPC Green Energy Limited has come forward to set up renewable energy projects of up to 25 Giga Watt (GW) of solar/wind/hybrid with or without storage capacities, 0.5 million metric tonne per annum (mmtpa) of green hydrogen and its derivatives through a suitable mode and up to 10 GW pump hydro projects in the State.
According to the JV, NTPC Green Energy will facilitate securing of financial and technical support and obtaining necessary clearances from the Centre and NREDCAP will identify suitable sites, provide data and encumbrance-free land, and assist in obtaining State-level permits and clearances.
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