Andhra Pradesh Chief Minister N. Chandrababu Naidu, addressing the 4th Global Renewable Energy Investors Meet & Expo at Gandhinagar on Monday, said his government has lined up a slew of incentives for the entire spectrum of Renewable Energy (RE) companies under the A.P. Integrated Clean Energy Policy -2024 (ICEP), which is now in the draft stage.
Outlining salient features of the ICEP, Mr. Naidu said the State government’s target is to generate 78.50 Gigawatts (GW) of solar energy, 35 GW of wind energy, 22 GW of pumped storage energy and 1.50 Million Metric Tonnes Per Annum (MMTPA) of green hydrogen and its derivatives, and production of 1,500 Kilo Litres Per Day (KLD) of ethanol and 1,000 Tonnes Per Day of bio-compressed natural gas/compressed biogas. It also aims to have 25 GWh of battery energy storage in the next five years, as per ICEP-2024, the Chief Minister said.
Mr. Naidu called upon potential investors to look at Andhra Pradesh’s “distinct advantages” of having large government land parcels and superior infrastructure connectivity compared to many other States, among other facilities.
“The Andhra Pradesh government is taking steps to create a good RE generation ecosystem with due emphasis on cost optimisation and developing green energy corridors and hubs, and is prepared to extend all possible assistance to those keen on investing in the State,” Mr. Naidu said, adding that ICEP would be applicable to RE projects including the manufacturing component. A.P.’s aim is to attract investments amounting to ₹10 lakh crore in 2024-29, he said.
Mr. Naidu added that the government would undertake a midterm review of the policy to remove any inconsistencies with the Electricity Act of 2003 and the amendments thereto, and make other necessary course corrections. ICEP would have defined project timelines and provide for deemed cancellations in case of defaults, he said.
“The State would have made far more rapid strides in the RE sector but for the disruptions that happened in the last five years. The new government would do all that is possible to ensure that it does not miss out on the ongoing green energy revolution,” Mr. Naidu said.
Lastly, the Chief Minister said the State capital Amaravati has tremendous scope for adoption of RE. Of the 34,000 acres of land pooled in 2014-19, about 10,000 acres were being used for public purposes and monetisation that could fetch up to ₹2 lakh crore needed for construction of the city. Energy Minister Gottipati Ravi Kumar, Special Chief Secretary (Energy) K. Vijayanand and New & Renewal Energy Development Corporation of AP Vice-Chairman & MD M. Kamalakar Babu accompanied the Chief Minister as part of the A.P. delegation.
Published - September 16, 2024 08:19 pm IST
