ReNew to invest ₹29,500 crore in two Andhra Pradesh projects
The clean-energy company announced plans for a pumped storage facility and a green ammonia plant during a summit in Visakhapatnam.
ReNew has pledged an in-principle investment of ₹29,500 crore for two new clean-energy ventures in Andhra Pradesh, according to reports by South First, Urban Acres and BusinessLine. The commitment was made following a meeting between Minister for HRD, IT and Electronics Nara Lokesh and ReNew Chairman and CEO Sumant Sinha at the CII Partnership Summit in Visakhapatnam.
The proposed projects include a 2 GW pumped storage facility valued at ₹12,500 crore and a green ammonia and e-fuel plant worth ₹17,000 crore. ReNew has also agreed in principle to a ₹11,000 crore polysilicon and metallurgical-grade silicon project, which would bring its total new investment proposals in the state to ₹40,500 crore.
In addition to these, an Indo-South Korean joint venture between Carbon Resources Private Limited and Cosmo AM&T is set to establish a ₹4,000 crore battery raw materials facility in Naidupeta, Tirupati district. This plant, operating as Carbon Cosmo Advanced Materials Private Limited, will manufacture ferric phosphate and lithium iron phosphate cathode materials across three phases.
The company's existing footprint in the state includes a ₹22,000 crore hybrid renewable project in Guntakal and a proposed ₹85,200 crore green data centre in Makavarapalem, Anakapalli district. ReNew first began operations in Andhra Pradesh in 2015 with a 24 MW wind farm in Kalyandurg.
Minister Nara Lokesh stated that the state government would provide speed and support to projects across the clean-energy value chain. He noted that ReNew's presence has grown from its initial wind farm to include solar manufacturing and green data centres.