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 Business deals often find their roots in informal settings, and this was precisely the case earlier this year in Davos. During a dinner meeting between Nara Lokesh, Andhra Pradesh’s IT minister, and Sumant Sinha, founder and chairman of Gurugram-based ReNew Power, a major investment plan took shape. ReNew Power is set to invest Rs 22,000 crore in Andhra Pradesh, marking a significant revival for the company in the state. The groundbreaking ceremony, scheduled for May 16, will launch one of Andhra Pradesh’s largest renewable energy projects by installed capacity. Andhra Pradesh boasts abundant renewable energy potential, but currently lags with an installed clean energy capacity of 9 GW—far behind neighbouring states like Tamil Nadu and Karnataka, which have achieved around 23 GW. Chief Minister N Chandrababu Naidu has openly criticized the previous administration under YS Jagan Mohan Reddy for setting back the state’s power sector. Notably, companies like Power, Greenko Holding, ...

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  ReNew Power has announced a significant investment of ₹22,000 crore to establish India's largest integrated renewable energy project in Andhra Pradesh.   The project, located in Bethapalli, Anantapur district, will encompass solar, wind, and battery storage units.   The first phase involves a ₹7,000 crore investment to develop 587 MW of solar power, 250 MW of wind power, and 415 MW of battery storage.   Once fully operational, the facility aims to achieve a capacity of 1,800 MW of solar, 1 GW of wind, and 2,000 MW of battery storage.   The Times of India This initiative is part of Andhra Pradesh's Integrated Clean Energy Policy (ICE), designed to attract investments and strengthen the state's renewable energy infrastructure.   Discussions between ReNew Power and the state government were initiated at the World Economic Forum in Davos, leading to this substantial commitment.   www.ndtv.com +6 The Times of India +6 The Times of India +6 The foundation ...