VIJAYAWADA: The Andhra Pradesh Integrated Clean Energy Policy-2024, evolved to provide a robust regulatory framework for clean energy investments, has gained international attention.
A delegation of SAEL Solar, a leading Indian renewable energy company operating across 12 States, along with marquee investors from Norway and BRICS nations, met Energy Minister Gottipati Ravi Kumar on Friday. The discussions centered around potential investments in solar energy projects, waste-to-energy initiatives, and solar panel manufacturing in Andhra Pradesh.
The visiting delegation, including representatives from Norfund (Norwegian sovereign wealth fund) and the Development Finance Corporation (DFC) of the United States, expressed confidence in Andhra Pradesh’s policy framework. Both entities have been key investors in SAEL’s renewable energy projects with Norfund channeling $60 million through its Norwegian Climate Investment Fund, and DFC contributing $35 million to support SAEL’s green energy initiatives.
SAEL is planning to take up 1,200 MW renewable energy capacity project in AP, divided into two phases of 600 MW each. This project highlights AP’s potential as a renewable energy hub. The Energy Minister highlighted the State’s progressive approach under the leadership of Chief Minister N Chandrababu Naidu, and its commitment to achieving net-zero emissions by 2047.