Under the coalition government’s leadership, Andhra Pradesh is witnessing a surge in investments. In the past eight months alone, agreements worth nearly ₹7 lakh crores have been signed for investments in the state. Now, Andhra Pradesh has received another huge investment that surpasses all previous deals, with Tata Group committing to invest ₹49,000 crores in the state.
On Friday, in the presence of Nara Lokesh, the national general secretary of the TDP and the minister for IT and Education in Andhra Pradesh, an agreement was signed between the Andhra Pradesh government and Tata Power Renewable Energy. Tata Group’s subsidiary company, Tata Consultancy Services (TCS), had already set up a data center in Visakhapatnam earlier. Now, another Tata subsidiary, Tata Power Renewable Energy Limited, is making its way into the state.
As part of the agreement, Tata Power Renewable Energy Limited will invest heavily in Andhra Pradesh’s renewable energy sector. In the first phase, Tata will invest ₹49,000 crores. These investments will be directed towards developing renewable energy projects and exploring new opportunities within the state. With this investment, it is expected that over the next few years, investments worth up to ₹10 lakh crores could flow into Andhra Pradesh. This move is set to bring a new wave of growth to the renewable energy sector in the state. Andhra Pradesh has already been a leader in renewable energy, and Tata’s investment will only further cement the state’s position at the forefront of the industry.
During the signing ceremony, Lokesh made some interesting comments. He highlighted that CM Chandrababu Naidu is working towards accelerating the state’s green energy goals. Lokesh also emphasized that the agreement aligns perfectly with Naidu’s visionary leadership. Tata Power Renewable Energy Limited’s CEO and Managing Director, Dipesh Nanda, expressed his happiness over the agreement with Andhra Pradesh. The event was attended by Andhra Pradesh’s Energy Minister, G. Ravi Kumar, Chief Secretary Vijay Anand, and various departmental officials.
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