Andhra Pradesh Chief Minister N. Chandrababu Naidu speaks during the 4th Global Renewable Energy Investors Meet and Expo (RE-INVEST 2024), in Gandhinagar, Monday, Sept. 16, 2024.
Credit: PTI Photo
Hyderabad: Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday said that the state has set an ambitious target to increase its renewable energy generation capacity to 72.60 GW by 2030 at the 4th Global Renewable Energy Investment Meet, inaugurated by Prime Minister Narendra Modi in Gandhinagar, Gujarat.
He was speaking at the Chief Ministerial Plenary when he made the announcement, which aligns with India's goal of generating 500 GW by the same year. He mentioned that this initiative would create jobs, protect the environment, and make Andhra Pradesh a leader in green energy.
Promoting Andhra Pradesh as the next big player in green energy, the Chief Minister highlighted the state’s coastline, strong industrial base, excellent transport links, and vast potential in solar, wind, pumped storage, and green hydrogen.
He said that the state has set renewable energy capacity targets with 40 GW solar energy, 20 GW wind energy, 12 GW pumped storage, 25 GW battery energy storage, 1 MTPA Green Hydrogen and derivatives, 2500 KLPD bio fuels and 500 public charging stations for Electric vehicles.
He further informed that Andhra has installed 4335.28 MW Solar, 4083.57 MW wind power, 106MW small hydro, 443 MW bio energy and 36 MW Waste to Energy so far. Around 4000 MW solar power parks were established in Ananthapuram, Kurnool, and Kadapa Districts. Another 2700 MW Solar capacity is upcoming in Prakasam district and Sri Satyasai district.
He invited global investors to take advantage of the state's investor-friendly policies, which include tax breaks, subsidies, and easy regulations, along with a skilled workforce. "I want to create one of the best ecosystems for green energy in India," he said.
Naidu also stressed the importance of adopting global best practices in renewable energy, focusing on R&D, policy support, and removing obstacles for emerging technologies. He announced plans to establish a Global University for Clean Energy and Circular Economy to encourage knowledge sharing and innovation.
The Andhra Pradesh Chief Minister mentioned that the state government is implementing PM Surya Ghar Muft Bijili Yojana and targeted to install roof top solar in 10 lakh households by 2026-27 apart from its target of 26 model solar villages (1 solar village in each district), and solarization of government buildings on saturation mode up to 150 MW by 2025-26 with the support of NTPC Vidyut Vyapar Nigam Ltd (NVVN).
“As part of PM KUSUM, the state has implemented feeder level solarization of agricultural feeders with an aggregate capacity of 3725 MW and also installed 31,275 off grid solar pumpsets. Andhra Pradesh has also taken lead to promote pumped storage projects at 39 locations with estimated potential of 43.89 GW to balance its variable renewable energy (VRE) generation and minimize the grid imbalances”, he said.
He added, “We have seen PPPs - Public-Private Partnerships. I’m introducing P4 - Public, Private, People’s Partnership. I want to involve the people as partners in renewable energy.”
Explaining the incentives proposed under draft ICE policy 2024, the Chief Minister said that the state government is giving priority for promotion of renewable energy projects and rolling out multiple initiatives, policies and incentives to accelerate the development of the renewable energy sector.
“The Government shall provide vital incentives for development of wind projects and turbine manufacturers and waive off the transmission and wheeling charges to promote RE equipment manufacturing and development of RE infrastructure projects and also provide sector specific capital and interest subsidies to foster innovation and contribute to a greener, more resilient energy grid. Apart from these, the government shall provide production incentives to RE equipment manufacturers and subsidies on power costs, and electricity duty to reduce expenses and promote RE manufacturing facilities,” he said.