Andhra Pradesh to Launch ₹5,400 Crore Solar Manufacturing Facility by ReNew
Andhra CM to lay foundation for ReNew's Rs 5,400 crore solar unit
Business Standard
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Andhra Pradesh is set to inaugurate a ₹5,400 crore solar manufacturing facility by ReNew in Anakapalli district, near Visakhapatnam. This 6 GW unit aims to bolster India's clean energy ambitions and reduce import dependency, creating over 2,100 jobs in the region.
- 01ReNew's solar facility represents a ₹5,400 crore investment.
- 02The project will manufacture 6 GW of solar ingots and wafers.
- 03It aims to reduce India's reliance on solar imports.
- 04The facility is expected to generate over 2,100 jobs.
- 05The groundbreaking ceremony will be led by N Chandrababu Naidu.
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Andhra Pradesh is poised to host the groundbreaking ceremony for a significant solar manufacturing facility by ReNew, a Nasdaq-listed renewable energy company, in Anakapalli district near Visakhapatnam. This facility, with an investment of ₹5,400 crore (approximately $650 million USD), will focus on producing 6 GW of solar ingots and wafers, contributing to India's clean energy ambitions. The project is part of ReNew's broader commitment of ₹82,000 crore in the state, reflecting strong investor confidence in Andhra Pradesh's policy framework. This initiative aligns with India's goal of achieving 500 GW of non-fossil fuel capacity by 2030, as outlined in the vision of Atmanirbhar Bharat (self-reliant India). The facility is expected to be operational within 24 months, creating over 2,100 direct and indirect jobs and enhancing the local economy. The groundbreaking will be led by N Chandrababu Naidu, with participation from ReNew's leadership, including CEO Sumant Sinha. The project exemplifies Andhra Pradesh's Integrated Clean Energy Policy 2024, designed to attract large-scale investments and position the state as a clean energy hub.
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The establishment of this facility will enhance local industrial growth and employment opportunities in Anakapalli district, contributing to the economic development of the region.
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