NTPC Green Energy Ltd (NGEL), a subsidiary of NTPC, has entered into a joint venture agreement with the New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) to establish renewable energy projects in Andhra Pradesh valued at Rs 2,00,000 crore.
The collaboration involves the development of 25 GW of solar, wind, and hybrid energy projects, 10 GW of pumped hydro storage capacity, and the production of 0.5 million metric tons per annum (MMTPA) of green hydrogen and its derivatives, including green ammonia and methanol.
According to a report by Manufacturing Today, the initiative is expected to generate approximately 1.06 lakh jobs and contribute Rs 20,620 crore to the state’s economy over the next 25 years.
NGEL has also announced plans to invest Rs 1.85 trillion in a green hydrogen hub in Pudimadaka, involving partnerships with international firms to advance sustainable energy production in the region.
The agreement aligns with Andhra Pradesh’s Integrated Clean Energy Policy, which aims to achieve renewable energy capacities of 78.50 GW in solar, 35 GW in wind, and 22 GW in pumped hydro storage within five years.