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NGEL to invest Rs 2 trillion in Andhra for renewable energy projects

NTPC Green Energy Ltd (NGEL), the renewable energy arm of power giant NTPC, has recently launched its Rs 10,000 crore Initial Public Offering (IPO) with a price band of Rs 102-108 per share

Energy, Solar energy, Wind Energy

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Press Trust of India Amaravati

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NTPC Green Energy Ltd has signed an agreement with NREDCAP to set up renewable energy projects worth Rs 2 trillion, Andhra Pradesh Chief Minister N Chandrababu Naidu said.
 
NTPC Green Energy Ltd (NGEL), the renewable energy arm of power giant NTPC, has recently launched its Rs 10,000 crore Initial Public Offering (IPO) with a price band of Rs 102-108 per share.
 
NGEL has signed a joint venture with NREDCAP (New & Renewable Energy Development Corporation of Andhra Pradesh) to set up renewable energy (RE) projects worth Rs 2,00,000 crore in Andhra Pradesh, Naidu said in a post on X on Thursday.
 
 
The collaboration will focus on developing 25 GW solar/wind, 10 GW pumped storage projects (PSPs), and 0.5 MMTPA green hydrogen, the chief minister added.
 
"This historic project will create over one lakh jobs and position our state as a renewable energy leader at the forefront of India's green energy revolution," Naidu said.

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First Published: Nov 21 2024 | 9:58 PM IST

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