ReNew commits ₹29,500 crore to two Andhra Pradesh clean energy projects
The investment covers a 2 GW pumped storage facility and a green ammonia and e-fuel project.
Renewable energy firm ReNew has pledged an in-principle investment of ₹29,500 crore for two new clean energy ventures in Andhra Pradesh, according to Mint. The commitment was made during a meeting between Andhra Pradesh Minister for IT and Electronics Nara Lokesh and ReNew Chairman and CEO Sumant Sinha at the CII Partnership Summit in Visakhapatnam on Thursday.
The proposed projects include a 2 GW pumped storage facility costing ₹12,500 crore and a green ammonia and e-fuel project valued at ₹17,000 crore. Pumped storage works by moving water to an upper reservoir to be released through turbines for electricity generation.
Nara Lokesh stated that the company's expansion shows confidence in the state, which is strengthening its clean energy ecosystem. He added that the government would provide support to ensure these investments progress on time.
ReNew has been operating in the state since 2015, starting with a 24 MW wind farm at Kalyandurg. The company currently manages 717 MW of wind power and 60 MW of solar capacity across 10 locations in Andhra Pradesh.
Other ongoing developments by the company include a ₹22,000 crore hybrid power project at Guntakal and an ₹85,200 crore green data centre at Makavaripalem in Anakapalli district. The data centre is expected to create 1,880 jobs.
The company is also working on a ₹4,200 crore ingot and wafer manufacturing facility at Rambilli and a ₹11,000 crore polysilicon and metallurgical-grade silicon project.