Deals Sealed Over Dinner in Davos: ReNew Power to Pump Rs 22,000 Crore into Andhra Pradesh

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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, Axis Wind Farms, Azure Power, and Mytrah have exited the region.

Andhra Pradesh’s Bold Clean Energy Push

In October 2024, Naidu unveiled the ‘Andhra Pradesh Integrated Clean Energy Policy’, with guidelines issued earlier this year. This ambitious five-year plan aims to add over 160 GW of renewable capacity, attract investments worth Rs 10 lakh crore, and generate employment for approximately 7.5 lakh people. The policy has already drawn major industry players to the state.

Reliance Industries Ltd (RIL), led by Mukesh Ambani, signed an MoU with the state in November 2024 to invest Rs 65,000 crore to set up 500 compressed biogas plants across districts, targeting a combined capacity of 11,000 million tonnes.

Similarly, Tata Power announced a Rs 49,000 crore investment to develop up to 7 GW of solar, wind, and hybrid energy projects under the integrated policy.

Greenko Group plans to invest Rs 35,070 crore to develop Andhra Pradesh’s largest integrated renewable energy project, featuring 5 GW of renewable capacity and 1.7 GW hours of pumped hydropower generation.

Now, ReNew Power is poised to add its Rs 22,000 crore renewable energy project, with 2.5 GW capacity and a 1 GWh battery energy storage system, setting new benchmarks for clean energy growth in the state.

Sumant Sinha shared with Moneycontrol, “Andhra Pradesh offers an ideal blend of investor-friendly policies, strong transmission infrastructure, and rich solar and wind resources. We are confident about scaling up renewable capacity here to support India’s goal of 500 GW non-fossil fuel electricity by 2030.”

Personalized Outreach Seals the Deals

The state government’s proactive approach includes personalized meetings with top executives. Just as Lokesh’s dinner with Sinha in Davos clinched the ReNew Power deal, Reliance’s investment was finalized in Mumbai with Anant Ambani, who heads RIL’s clean energy ventures. Tata Power’s commitment came after discussions with Tata Sons chairman Natarajan Chandrasekaran eight months ago.

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