ReNew to invest ₹29,500 crore in Andhra Pradesh for pumped storage and green ammonia projects
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓ReNew announced an in-principle commitment to invest ₹29,500 crore in Andhra Pradesh for two new projects.
- ✓The company plans to build a 2 GW pumped storage unit and a green ammonia facility.
- ✓Nara Lokesh said, "Andhra Pradesh is building India's clean-energy future across the value chain, and we will back."
Story at a Glance
- Category
- Indian Markets
- Reported By
- FortuneIndia
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
ReNew now operates 717 MW of wind and 60 MW of solar capacity across 10 sites in the state.
ReNew has announced an in-principle commitment to invest ₹29,500 crore in two new projects in Andhra Pradesh.
The company announced the investment during a meeting between Andhra Pradesh's HRD, IT & Electronics minister Nara Lokesh and ReNew Chairman & CEO Sumant Sinha at the CII Partnership Summit in Visakhapatnam today.
"The two projects are 2 GW pumped storage unit worth ₹12,500 crore and a green ammonia and e-fuel project worth ₹17,000 crore. Pumped storage stores power by pumping water to an upper reservoir and releasing it through turbines when demand peaks," a release from the srate government said.
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