A.P. preferred choice for global investors, says Lokesh
Andhra Pradesh IT Minister Nara Lokesh announced significant new investments in the state's renewable energy sector, including a major project by Tata Power. The government aims to reach a clean energy capacity of 160 GW, citing a 400% surge in capacity over the past year as evidence of restored investor confidence.
Why it matters
This highlights the state's aggressive push for industrial growth and energy transition, signaling a shift in regional economic policy to attract global private equity.
Minister for Information Technology and Human Resources Development Nara Lokesh said that Andhra Pradesh has become the preferred choice for global investors.
Mr. Lokesh laid the foundation stone on Thursday for an 800 megawatt (MW) clean energy project in Kurnool and Anantapur, spearheaded by the Tata Power Renewable Energy Limited (TPREL), with an investment of ₹5,750 crore at Hosur near Pathikonda. Tata Power CEO and MD Praveer Sinha, Tata Power Renewable Energy CEO and MD Sanjay Banga, Suzlon Vice Chairman Girish Tanti, Minister for Industries T.G. Bharath Gupta, as well as people’s representatives, officials and representatives from Tata Power and Suzlon attended the event.
Speaking on the occasion, Mr. Lokesh revealed that global private equity funds such as Brookfield, Blackstone, BlackRock, EQT, and TPG were investing in Andhra Pradesh, while prominent Indian companies like Tata Power, Suzlon, ReNew, Premier Energies, and ACME were expanding their operations in the State.
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