Renew Power Commits Rs 13k cr Investment on Clean Energy in AP

The move has come to develop renewable energy capacity in Andhra Pradesh and also helps in generating direct employment for 4,000 people and indirect employment for 6,000 people.

Renewable energy company ReNew Power has inked a Memorandum of Understanding (MOU) with the Andhra Pradesh (AP) government during the ongoing 3-day CII Partnership Summit to invest Rs 13,000 crore over the next five years.

The move has come to develop renewable energy capacity in Andhra Pradesh and also helps in generating direct employment for 4,000 people and indirect employment for 6,000 people.

The company said in a statement that, “The Memorandum of Understanding (MoU) envisages the development of 1,000 MW of installed capacity for solar power and another 1,000 MW of wind over the next five years by ReNew Power.”

“The projects, put together, have the potential to create direct employment for 4,000 people and indirect employment for 6,000 people, while providing access to clean energy in the state,” it said.

Commenting on the development, ReNew Power, Chief Executive, Sumant Sinha said, “We already have more than 300 MW of installed green energy capacity in Andhra Pradesh. With this proposed investment, we want to further enhance our support to the state in meeting its energy requirements in a more sustainable way and also create thousands of jobs.”

Source: IANS