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Under this strategic agreement, TPREL and the Government of Andhra Pradesh will jointly explore Renewable Energy (RE) development opportunities of up to 7,000 MW (7 GW), including Solar, Wind, and Hybrid projects with or without storage solutions. The estimated investment in these projects stands at approximately upto Rs 49,000 crore. This partnership aligns with the State's vision to enhance its renewable energy portfolio and accelerate the transition towards a sustainable and green energy future. The proposed capacities would be set up under Andhra Pradesh's Integrated Clean Energy (ICE) Policy, a landmark clean energy framework that that aims for State to develop over 160 GW of renewable energy with an investment potential of Rs 10 lakh crore. Deepesh Nanda, CEO & managing director, TPREL, said, 'We are delighted to partner with the Government of Andhra Pradesh in advancing the state's clean energy journey. By leveraging our expertise and cutting-edge technology, this partnership will drive large-scale renewable adoption and contribute to India's sustainability goals. Developing upto 7GW 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.' Tata Power Company is one of India's largest integrated power companies, and together with its subsidiaries and jointly controlled entities, it has an installed/managed capacity of 14,453 MW. The company has a presence across the entire power value chain'generation of renewable as well as conventional power, including hydro and thermal energy, transmission & distribution, coal & freight, logistics, and trading. The company's consolidated net profit rose 8.2% YoY to Rs 1,030.70 crore in the quarter ended 31st December 2024. Net sales increased 5.1% to Rs 15,391.06 crore in Q3 FY25 as compared with Rs 14,651 crore in Q3 FY24. The counter shed 0.76% to end at Rs 351.30 on Friday, 7 March 2025. Powered by Capital Market - Live News |