Chief Minister Nara Chandrababu participated in the 4th Global Renewable Energy Investment Summit in Gandhinagar, Gujarat, inaugurated by Prime Minister Narendra Modi. During the summit, Chandrababu presented Andhra Pradesh’s ambitious renewable energy plans, inviting global investors to explore the extensive opportunities in the state’s energy sector. He outlined Andhra Pradesh’s vision and detailed the state’s plans to position itself as a leader in renewable energy.
Chandrababu emphasized Andhra Pradesh’s commitment to producing 72.60 gigawatts (GW) of renewable energy by 2030, in alignment with India’s national target of 500 GW. He stressed that these efforts would not only create jobs and reduce energy costs but also reinforce Andhra Pradesh’s leadership in environmental conservation. He pointed out the state’s abundant resources in solar, wind, pumped storage, and green hydrogen, inviting global investors to take advantage of the state’s favorable investment climate, including tax exemptions, subsidies, and efficient regulatory frameworks.
In a strategic move, Chandrababu announced the establishment of a Global University for Clean Energy and Circular Economy in Andhra Pradesh, aimed at promoting innovation, research, and knowledge sharing in renewable energy. He also outlined the state’s targets, including 40 GW of solar power, 20 GW of wind power, 12 GW of pumped storage, 25 GW of battery energy storage, and 1 MTPA of green hydrogen production. Additionally, Andhra Pradesh is setting up 500 public charging stations for electric vehicles.
Chandrababu introduced the P4 model (Public, Private, People’s Partnership) to involve citizens in the renewable energy revolution. He also revealed plans for an Integrated Clean Energy Policy 2024, highlighting the state’s commitment to promoting renewable energy projects and the incentives provided to attract global investments. This new policy, Chandrababu noted, will further strengthen Andhra Pradesh’s position as a hub for renewable energy in India.