Indian renewables developer Tata Power Renewable Energy (TPRL) has signed a memorandum of understanding (MoU) with the Indian government of Andhra Pradesh to develop up to 7GW of renewables in the state.
Under the agreement, both parties will jointly explore the development opportunities of up to 7GW solar PV, wind, and hybrid projects with or without energy storage.
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The renewables arm of Indian power conglomerate Tata Power estimates developing the portfolio could see an investment of up to INR490 billion (US$5.6 billion), stating it was one of the largest renewable energy investments in the state.
This agreement would be based on the southeastern Indian state’s Integrated Clean Energy Policy for the next five years and launched in late 2024. In its policy, the government of Andhra Pradesh targets the development of more than 160GW of renewable energy, of which nearly half (78.5GW) would be solar PV.
Moreover, the state also set a target for solar manufacturing annual nameplate capacity of 20GW across the entire value chain from polysilicon to PV modules.
Deepesh Nanda, CEO & managing director at 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. Developing up to 7 GW of clean energy projects will further strengthen Andhra Pradesh’s position as a renewable energy hub and accelerate its transition towards a low-carbon economy.”
This is the latest MoU signed by Tata Power or its renewables arm with an Indian state. Last month the company signed a similar MoU with the government of Assam to build up to 5GW of renewables, while TPRL signed an MoU to scale up rooftop solar PV projects with state-owned utility Assam Power Distribution Company Limited.
