Tata Power Subsidiary to Invest Rs. 49,000 Cr. for RE Projects in Andhra Pradesh

Tata Power Renewable Energy Limited (TPREL), a subsidiary of Tata Power, will be investing Rs. 49,000 crore for development of 7 GW of Renewable Energy (RE) projects in Andhra Pradesh. The company has signed a Memorandum of Understanding (MoU) with Andhra Pradesh government regarding these projects.

According to Tata Power’s official press release this is one of the largest renewable energy investments in the state.

As per the MoU, Tata Power Renewable Energy Ltd. and Government of Andhra Pradesh will jointly develop solar, wind and hybrid energy projects in the state. TPREL will carry out preliminary assessments, feasibility studies, and development activities for these projects. New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) will facilitate the development of these RE projects by site identification, and by providing assistance for developing power evacuation infrastructure.

Commenting on this development, Mr. Deepesh Nanda, CEO & Managing Director, TPREL, said “By leveraging our expertise and cutting-edge technology, this partnership will drive large-scale renewable adoption, and contribute to India’s sustainability goals”.

Earier this month, Tata Power had announced an investment of Rs. 30,000 crore for developing 5 GW of RE projects in Assam.