Now Reading: Nara Lokesh says AP regains investor confidence as Tata Power project starts
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Nara Lokesh says AP regains investor confidence as Tata Power project starts
Nara Lokesh says AP regains investor confidence as Tata Power project starts
Andhra Pradesh minister Nara Lokesh laid the foundation stone for Tata Power Renewable Energy's 800 MW hybrid renewable project near Kurnool on Thursday. The Rs 5,350 crore project, spread across Kurnool and…
The Story in Brief
Andhra Pradesh minister Nara Lokesh laid the foundation stone for Tata Power Renewable Energy's 800 MW hybrid renewable project near Kurnool on Thursday. The Rs 5,350 crore project, spread across Kurnool and Anantapur districts, combines a 400 MW solar plant and a 400 MW wind farm. Lokesh said it will create around 4,000 construction jobs and provide stable lease income to over 1,100 farming families for nearly three decades.
Lokesh claimed the state's renewable energy capacity has risen nearly 400 per cent in the past year, crediting the new government's policies after it took office in June 2024. He blamed the previous government for damaging investor confidence by cancelling power purchase agreements. The minister said the Integrated Clean Energy Policy-2024 targets 160 GW of clean energy capacity, positioning the state as a global exporter of green hydrogen and ammonia.
The Indian Opinion
Critics will dismiss Lokesh's 400 per cent capacity claim as political spin, and the previous government's PPA cancellations indeed hurt credibility. But Tata Power, a credible group, has actually broken ground on this 800 MW project, not just signed an MoU. The real test will be how many of the promised 4,000 construction jobs and 1,100 farming-family leases materialise. Also: will the policy survive a change of government? That question hangs over every such announcement in Andhra Pradesh.
Source: thehansindia.com
This story was synthesised by AI from the source linked above.
