Tata Power Signs $5.6 Bn MoU to Advance Andhra Pradesh's Green Energy

In a major advancement for India's renewable energy industry, Tata Power Renewable Energy Ltd (TPREL) has partnered with the Andhra Pradesh government to develop renewable energy projects additional to the already existing infrastructure projects for the state. The agreement involves the development of renewable energy projects amounting to Rs. 49,000 crores or 5.6 billion dollars. This is reported to be one of the largest investments in clean energy in the state so far which further cements the position of Andhra Pradesh in the renewable energy race within India.

The partnership will be directed towards setting up multiple solar, wind, and storage or non-storage hybrid power projects, cumulatively up to 7000 Mwatts. The initiatives will be developed in compliance with Andra Pradesh's Integrated Clean Energy (ICE) policy. This policy has established an incredible investment objective of 10 Lakh crores for the area, aiming to reach 160 gigawatts of renewable energy capacity.

"This partnership aligns with the State’s vision to enhance its renewable energy portfolio and accelerate the transition towards a sustainable and green energy future," Tata Power Renewable Energy stated in its exchange filing. The transaction places Andhra Pradesh at the vanguard of India's aggressive clean energy drive and reinforces Tata Power's commitment to green growth.