ReNew Power to Invest ₹82,000 Cr in AP

Visakhapatnam: The ReNew Energy Global Plc has signed four pacts with the Andhra Pradesh economic development board, promising a fresh investment of Rs 60,000 crore.

The MoU was signed in the presence of Chief Minister Chandrababu and Industries Minister Nara Lokesh on Thursday.

The company, known for its decarbonisation solutions, announced a fresh investment of Rs 60,000 crore to establish large-scale green energy projects in the state. With this, ReNew’s total new investment in AP rises to Rs 82,000 crore. In May last, the company pledged Rs 22,000 crore to build one of India’s largest hybrid renewable energy projects in Anantapur district.

The new agreements cover ambitious projects, including a 6gw solar ingot-wafer plant, a 2gw pumped-hydro project, a 300ktpa green ammonia facility, and 5gw hybrid renewable projects integrating wind, solar and battery storage systems.

The chief minister said the investments reflected the confidence global firms have in the state’s policies, infrastructure and talent pool. Such collaborations would expand clean energy production, generate employment and support sustainable growth across the state, he said.

Sumant Sinha, founder, chairman and CEO of ReNew, said his company aimed at building a complete clean energy value chain in AP, ranging from solar wafer manufacturing to large-scale renewable energy and storage projects. This would strengthen domestic supply chains, create skilled jobs and reinforce India’s clean energy ambitions.

In an interview with Deccan Chronicle, Sumant Sinha praised AP’s business-friendly environment and swift decision-making processes. He said the state’s abundant natural resources and supportive government policies motivated the company to expand further.

He said the projects could be completed in six years and generate around 10,000 direct jobs, as also indirect employment opportunities.

Sinha said the CM has shown interest in creating an institution that focuses on both skilling and research. ReNew, with its existing clean energy research centre at IIT Delhi, is willing to partner with the government to set up such a university, he said

Currently, ReNew operates 717mw of wind and 60mw of solar power projects across ten sites in AP. With the new investments, the company aims to contribute to the state’s ambitious target of achieving 78.5gw of solar, 35gw of wind, and 25gw of battery storage capacity.