This renewable energy firm will invest ₹82,000cr in Andhra Pradesh
What's the story
Renew, a renewable energy company, has announced a massive investment of ₹82,000 crore in Andhra Pradesh. The investment will cover the entire renewable energy value chain from solar ingot and wafer manufacturing to project development and green hydrogen production. The announcement was made by Nara Lokesh, Andhra Pradesh's IT and Industries Minister.
Investment details
Lokesh announces investment on X
Lokesh took to X to announce the investment, saying, "After five years out of AP, the company is placing an all-in investment on the entire renewable energy value chain in the State." This is expected to be a major boost for Andhra Pradesh's renewable energy sector and its overall economic development.
Data center project
Agreement signed for another ₹15,000cr investment
Separately, the Andhra Pradesh government has signed an agreement with Tillman Global Holdings for a ₹15,000 crore investment. The company will set up a 300MW hyperscale data center campus in Visakhapatnam. Tillman Global Co-President Sachit Ahuja said they aim to build "a world-class 300MW campus in Visakhapatnam that anchors long-term digital infrastructure."
Job creation
Data center project to generate thousands of jobs
The data center project will be set up on a 40-acre land and is expected to generate between 200-300 direct jobs and 800-1,000 indirect jobs by 2028. The Andhra Pradesh Economic Development Board will offer investor facilitation and inter-agency support within the applicable policies, rules, and procedures for this project.