Chief Minister Nara Chandrababu Naidu has extended an invitation to global investors to support Andhra Pradesh’s (AP) ambitious green energy initiatives. Speaking at the Fourth Global Renewable Energy Investment Meet, inaugurated by Prime Minister Narendra Modi in Gandhinagar, Gujarat, Naidu emphasized AP’s goal to generate 72.60 GW of renewable energy by 2030, contributing to India’s broader 500 GW renewable energy target.
Incentives to Boost Green Energy Development
Naidu assured investors that AP is set to become a leading player in green energy and promised several incentives, such as waiving transmission and wheeling charges for wind projects, offering capital and interest subsidies, and providing production incentives to manufacturers of renewable energy equipment. Subsidies on power costs and electricity duties were also part of his outlined support to reduce operational expenses for developers.
Promoting Innovation and Community Involvement
He also highlighted AP’s leadership in promoting pumped storage projects across 39 locations, with an estimated capacity of 43.89 GW to help minimize grid imbalances. Introducing the concept of “public-private-people’s partnership” (P4), Naidu stressed the importance of involving citizens as stakeholders in renewable energy projects. Furthermore, Naidu discussed the establishment of a global university for clean energy and the circular economy, aimed at fostering research, development, and knowledge sharing to drive innovation in the sector.
Source: deccanchronicle.com
