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NTPC Green Energy Ltd has signed an agreement with NREDCAP to set up renewable energy projects worth Rs 2 lakh crore, Andhra Pradesh Chief Minister N Chandrababu Naidu said.

NTPC Green Energy Ltd (NGEL), the renewable energy arm of power giant NTPC, has recently launched its Rs 10,000 crore initial public offering (IPO) with a price band of Rs 102-108 per share.

NGEL has signed a joint venture with NREDCAP (New & Renewable Energy Development Corporation of Andhra Pradesh) to set up renewable energy (RE) projects worth Rs 2,00,000 crore in Andhra Pradesh, Naidu said in a post on X on Thursday.

The collaboration will focus on developing 25 GW solar/wind, 10 GW pumped storage projects (PSPs), and 0.5 MMTPA green hydrogen, the chief minister added.

“This historic project will create over one lakh jobs and position our state as a renewable energy leader at the forefront of India’s green energy revolution,” Naidu said.