Andhra Pradesh is eyeing ₹10 trillion ($11.89 billion) investment in the clean energy sector to achieve net-zero emissions by 2047.
AP Chief Minister N Chandrababu Naidu unveiled the Integrated Clean Energy Policy on Wednesday, which envisages incentives ranging from hassle-free land acquisition at reasonable prices to power subsidies to certain sectors.
The policy document said that the ICE Policy is expected to create direct and indirect employment for 7.5 lakh workers.
The policy also includes targets for solar, wind, pumped storage, green hydrogen, battery storage, ethanol, biogas and EV charging infrastructure.
Additionally, the state aims to establish a 25-30 gigawatts cleantech manufacturing sector to create local jobs.
Andhra Pradesh will establish the University for Green Energy and Circular Economy and the Clean Energy Knowledge & Skill Development Center. These institutions will train the workforce and foster partnerships with academia, think tanks, and industry.
The ICE Policy offers various incentives such as concessional land leases, stamp duty waivers, capital subsidies, and electricity duty exemptions.
The New and Renewable Energy Development Corp. of Andhra Pradesh will act as the state nodal agency to facilitate the implementation of clean energy projects.
The ICE Policy is a testament to Andhra Pradesh’s commitment to a sustainable future and its potential to become a leader in the energy transition.
By creating a favorable investment climate and fostering innovation, the state aims to achieve its ambitious net-zero goals and contribute to a cleaner and greener planet.
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Andhra Pradesh Eyes $12B Investment in Clean Energy for Net Zero by 2047
