Serentica Global to Set Up 10 GW RE Projects in Andhra Pradesh

Serentica Global, a Vedanta Group company, is set to establish 10 GW of renewable energy projects in Andhra Pradesh under the newly introduced AP Integrated Clean Energy Policy 4.0 which aims to achieve net zero carbon emissions by 2047.

October 25, 2024. By Mrinmoy Dey

Serentica Global, a Vedanta Group company is planning to set up renewable energy projects totalling 10 GW in Andhra Pradesh.

This plan was disclosed in a meeting of Andhra Pradesh’s Minister for Education, IT, and Electronics Nara Lokesh and senior company officials from Serentica Global at the company’s office in Mumbai, the company said in a statement.

The Minister announced that Andhra Pradesh aims to build a renewable energy capacity of 72 GW by 2030, inviting corporations and investors like Serentica Global to join this initiative. He also highlighted that large-scale renewable energy projects in the state will create significant employment opportunities for youth.

This announcement comes on the heels of Andhra Pradesh announcing AP Integrated Clean Energy Policy 4.0, a week back. While introducing the policy Andhra Pradesh Chief Minister N Chandrababu Naidu said that the state through this policy aims to attract INR 10 lakh crore in investments for solar, wind, and renewable energy projects.

The policy offers incentives like easy land acquisition and power subsidies. The plan includes generating 78.5 GW of solar energy, 35 GW of wind energy, 22 GW of pumped storage, and setting up 25 GWh of battery storage. The policy also focuses on green hydrogen (1.5 MMTPA), ethanol (1,500 MLD), Bio-CNG/CBG (1,000 TPD), cleantech manufacturing (25-30 GW), and setting up EV charging infrastructure (5,000 PCS).

Incentives under the newly introduced policy include concessional land leases for projects, subsidies for green hydrogen and battery storage, and waivers on electricity duty and transmission charges. It offers a capital subsidy of 25 percent on FCI for solar, wind and electrolyser manufacturing and 20 percent on battery manufacturing.

Tags:

AP Integrated Clean Energy Policy 4.0

AP ICE Policy

Renewable projects in Andhra Pradesh