Andhra Pradesh Attracts Big Investments: Rs 44,776 Crore Approved, 19,580 Jobs To Be Created

In a significant boost to clean energy and industrial growth, the Andhra Pradesh State Investment Promotion Board (SIPB) has approved projects worth Rs 44,776 crore this month, expected to generate 19,580 jobs, the state government announced, as reported by PTI.

Of the approved investments, Rs 42,932 crore is allocated to the energy sector, with a primary focus on solar power. This move aligns with Andhra Pradesh’s ambitious target of developing 160 GW of renewable energy under its new integrated clean energy policy.

The largest approvals include a Rs 14,328 crore investment by Navayuga Engineering Company Ltd and Rs 10,300 crore by Megha Engineering and Infrastructure Ltd.

Other major players entering Andhra Pradesh’s renewable energy sector include:

• Tata Power Renewable Energy Ltd – Rs 2,000 crore

• Ayana Renewable Power Pvt Ltd – Rs 4,435 crore

• Ampin Energy Transition Pvt Ltd – Rs 3,142 crore

• SAEL Solar MHP1 Pvt Ltd – Rs 1,728 crore

• SAEL Solar MHP2 Pvt Ltd – Rs 1,728 crore

• Cuddapah Renewables Pvt Ltd – Rs 1,163 crore

• Ecoren Energy India Pvt Ltd – Rs 1,651 crore

Beyond the energy sector, Rs 1,844 crore worth of projects in other industries were also approved.

The latest project approvals were granted during the SIPB’s fourth meeting, chaired by Chief Minister Nara Chandrababu Naidu.

Since July 2024, SIPB has sanctioned investments totalling Rs 3.1 lakh crore, with an employment potential of 3.12 lakh jobs.

Andhra Pradesh IT Minister Nara Lokesh said, "Our new investment policies have created a favourable environment for investments in Andhra Pradesh."

He further highlighted that 13,000 jobs will be created in the clean energy sector alone.

"Andhra Pradesh has targeted to develop 160 GW of renewable energy under our new integrated clean energy policy," he said.

"We welcome leading investors to develop their projects in Andhra Pradesh and supply clean energy to fulfil the nation's climate goals," he added.

Since July, SIPB has also cleared investments from some of the biggest industrial players:

• ArcelorMittal Nippon India Pvt Ltd – Rs 61,780 crore for an integrated steel plant with a captive port.

• LG Electronics India Ltd – Rs 5,001 crore for a white goods manufacturing facility.

• Bharat Petroleum Corporation Ltd (BPCL) – Rs 96,862 crore for an oil refinery and petrochemical plant.

• AM Green Ammonia (India) Pvt Ltd – Rs 12,000 crore for a green ammonia plant.

• Reliance Industries Ltd – Rs 65,000 crore for compressed biogas plants.

Further, John Cockerill Greenko Hydrogen Solutions Ltd has secured approval for a Rs 2,000 crore electrolyser manufacturing facility, and Clean Renewable Energy Hybrid Three Pvt Ltd has been given the go-ahead to invest Rs 2,000 crore in a solar hybrid project with battery storage.

With India targeting 500 GW of renewable energy by 2030 to achieve net-zero emissions by 2070, Andhra Pradesh is emerging as a major hub for clean energy investments.

"This is a massive win for Andhra Pradesh, and it's a testament to the government's efforts to attract investments and create employment opportunities," the state government said.

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