The Andhra Pradesh government signed renewable energy agreements worth nearly INR 3 lakh crore on Thursday ahead of the 30th CII Partnership Summit. The summit will be held in the city on November 14 and 15.

Chief Secretary K Vijayanand announced that the investments span pumped hydro storage, green hydrogen, wind, solar, biofuels, and energy storage. The agreements are expected to generate up to 70 lakh jobs across the state.

Investment Details and Scope

"The government signed agreements and exchanged major Government Orders (GOs) amounting to nearly INR 2.94 lakh crore in the renewable energy sector," Vijayanand said in a press release. He added that the deals reflect Andhra Pradesh's leadership in green energy transition and investment facilitation.

The agreements were exchanged between the New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP), the Energy Department, and investors. The comprehensive nature of these investments covers multiple renewable energy sectors, positioning the state as a major player in India's clean energy transition.

Participating Companies

Prominent companies committing investments include Navayuga Engineering, Chinta Green Energy, ABC Cleantech (Evren), Axis Energy, ReNew Group, Four Square Green Energy, Indosol Solar, and Hero Future Energies, according to Vijayanand. These companies represent a diverse range of renewable energy sectors and bring significant expertise to the state's clean energy initiatives.

The participation of established players like ReNew Group and Hero Future Energies, alongside emerging companies in the sector, demonstrates the broad appeal of Andhra Pradesh's renewable energy opportunities across different scales of investment and technology focus areas.

Visakhapatnam Economic Region Development

Vijayanand also launched the Visakhapatnam Economic Region Growth Hub Plan to develop a globally competitive, inclusive, and resilient hub on India's east coast. The state aims to become a USD 2.4 trillion economy by 2047, with the Visakhapatnam Economic Region as the key growth engine, the chief secretary said.

The plan identifies seven priority growth drivers-industry, logistics, services, urban development, and clean energy-to ensure balanced growth across nine coastal districts. This comprehensive approach aims to create an integrated economic ecosystem that leverages the region's coastal advantages and industrial potential.

Flagship projects like Bhogapuram Aerocity, Vizag Bay City, and Vizag 2.0 are expected to redefine regional development, attract global investors, and create world-class urban ecosystems, Vijayanand said. These projects represent major infrastructure developments that will support the broader economic transformation of the region.

"As we launch this master plan, we reaffirm our commitment to building a prosperous, inclusive, and sustainable 'Swarna (golden) Andhra Pradesh', contributing to a 'Viksit Bharat' (developed India) by 2047," he added. This statement reflects the state government's alignment with national development goals while pursuing its own ambitious economic targets.

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