Deepesh Nanda (left) and M. Kamalakar Babu, Managing Directors of Tata Power Renewable Energy Limited and NREDCAP, respectively, signing the MoU at the Secretariat on Friday. Ministers Gottipati Ravi Kumar and Nara Lokesh, CS and Special CS (Energy) K. Vijayanand, and others are also seen.
| Photo Credit: SPECIAL ARRANGEMENT
VIJAYAWADA
The New & Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) and Tata Power Renewable Energy Limited (TPREL) have entered into an agreement for the development of Renewable Energy (RE) projects with 7 gigawatts (GW) capacity in the state with an estimated investment of ₹49,000 crore.
NREDCAP Managing Director M. Kamalakar Babu and TPREL MD & CEO Deepesh Nanda signed a Memorandum of Understanding at the Secretariat on Friday, in the presence of Ministers Gottipati Ravi Kumar (Energy) and Nara Lokesh (IT&HRD), Chief Secretary and Special CS (Energy) K. Vijayanand, TPREL CFO Amit Mimani, Tata Group Head (Strategy) Taher Lokhanandwala, TPREL Lead – Strategy Garima Chaudhary and others.
It is claimed that the said RE projects will reduce 318 million tonnes (MT) of CO₂ emissions, boosting the government’s efforts to achieve climate goals.
As per the MoU, NREDCAP will facilitate the implementation of the projects, provide support in obtaining statutory clearances, and develop the evacuation infrastructure to ensure seamless power transmission through the Central and State transmission utilities.
For its part, TPREL will focus on the large-scale development of RE projects, including ground-mounted and floating solar projects, wind projects, and hybrid projects with a total targeted capacity of up to 7,000 MW. Besides, TPREL will explore other opportunities in RE development with or without storage solutions to further strengthen the state’s clean energy ecosystem.
Mr. Lokesh emphasized that the MoU was a key milestone in securing the State’s energy future and that it would significantly contribute to the country’s overall RE targets.
Energy Minister Mr. Ravi Kumar appreciated NREDCAP and TPREL for their efforts in signing the landmark agreement.
Mr. Vijayanand expressed confidence that the MoU would help meet both local and national energy demands sustainably and that Andhra Pradesh would emerge as a national leader in the RE sector.
Published – March 07, 2025 09:05 pm IST
