A.P. preferred choice for global investors, says Lokesh

Minister for Information Technology and Human Resources Development Nara Lokesh said that Andhra Pradesh has become the preferred choice for global investors.

Mr. Lokesh laid the foundation stone on Thursday for an 800 megawatt (MW) clean energy project in Kurnool and Anantapur, spearheaded by the Tata Power Renewable Energy Limited (TPREL), with an investment of ₹5,750 crore at Hosur near Pathikonda. Tata Power CEO and MD Praveer Sinha, Tata Power Renewable Energy CEO and MD Sanjay Banga, Suzlon Vice Chairman Girish Tanti, Minister for Industries T.G. Bharath Gupta, as well as people’s representatives, officials and representatives from Tata Power and Suzlon attended the event.

Speaking on the occasion, Mr. Lokesh revealed that global private equity funds such as Brookfield, Blackstone, BlackRock, EQT, and TPG were investing in Andhra Pradesh, while prominent Indian companies like Tata Power, Suzlon, ReNew, Premier Energies, and ACME were expanding their operations in the State.

Mr. Lokesh said that the renewable energy capacity in Andhra Pradesh had surged by 400% in just one year compared to the previous year, attributing this to the restoration of the State’s credibility. “When the alliance government assumed office in June 2024, the renewable energy sector was in complete disarray. In the preceding five years, not a single major renewable energy project with a capacity of even one megawatt had been launched. Power Purchase Agreements (PPAs) had been unilaterally cancelled, shattering investor confidence. Many of the world’s largest infrastructure and climate funds had blacklisted Andhra Pradesh. Restoring confidence once it has been damaged cannot happen overnight. We have steadily worked to rebuild trust among investors,” he said.

With the introduction of the Integrated Clean Energy Policy-2024, we set a visionary goal to achieve a clean energy capacity of 160 gigawatts (GW), Mr Lokesh said. The Minister added that they aim to establish the entire clean energy supply chain within Andhra Pradesh, including solar modules, cells, batteries, green hydrogen, green ammonia, transmission infrastructure, ports, and storage systems to world-class manufacturing.

IT and HRD Minister Nara Lokesh receives a memento from Tata Power CEO & MD Praveer Sinha (right) during the foundation stone laying ceremony of Tata Power Renewable Energy Limited’s 800 MW clean energy project, in Kurnool.
| Photo Credit:
PTI

Elaborating on the project, he said that with an investment of ₹5,750 crore, the Tata Renewable Energy project is set to emerge as an 800 MW hybrid renewable energy facility, combining 400 MW of solar power at Pathikonda and 400 MW of wind power at Kanekallu in Anantapur district. “The project will generate approximately 4,000 jobs during its construction phase. Spanning over 3,400 acres, the project will provide stable lease income to more than 1,100 farming families for nearly three decades,” he said, adding that it stands as a symbol of confidence in both Andhra Pradesh and its administration.

Mr Lokesh opined that with India’s longest coastline, abundant renewable resources, and world-class ports, Andhra Pradesh was poised to become the nation’s gateway for green hydrogen and green ammonia exports. “Very soon, ships carrying clean fuel produced in Andhra Pradesh will set sail for Europe, Japan, Korea, and other parts of the world. We will reach a stage where Andhra Pradesh exports clean molecules, green fuels, and related technologies,” he said, expressing hope.

He then invited Tata Power to collaborate on a Centre of Excellence for solar manufacturing and renewable energy technologies, which is being jointly established by the Government of Andhra Pradesh, IIT Tirupati, and the University of New South Wales (Australia).