Tata Power Renewable Energy Partners with Andhra Pradesh for Major Renewable Energy Projects

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Windmill farm used to represent the renewale energy projects the two sides have collaborated on.
Tata Power and the Andhra Pradesh Government collaborate to develop 7,000 MW of renewable energy projects.

Tata Power Renewable Energy Limited (TPREL), a subsidiary of the Tata Power Company Limited, has entered into a Memorandum of Understanding (MoU) with the Andhra Pradesh Government for cooperation in the development of renewable energy projects in Andhra Pradesh. The two parties executed the MoU in Amaravati as a significant step toward the realization of the renewable energy mission of Andhra Pradesh.

A Strategic Agreement for 7,000 MW of Renewable Energy

TPREL and the Andhra Pradesh Government will develop solar, wind, and hybrid renewable energy projects with or without storage. They aim to add a total capacity of up to 7,000 MW with an investment of ₹49,000 crore. This alliance is in harmony with the vision of Andhra Pradesh to enhance its renewable energy proportion and also take a lead in moving towards a green, sustainable energy future.

Economic and Social Impact

The MoU will aid in clean energy targets, enhance the local economy, generate employment, and advance skill building in Andhra Pradesh. The planned renewable energy projects will also assist in solidifying the state’s Integrated Clean Energy (ICE) Policy of creating over 160 GW of renewable energy and attracting ₹10 lakh crore worth of investments.

Deepesh Nanda, CEO & Managing Director of TPREL, said, “We are delighted to partner with the Government of Andhra Pradesh in advancing the state’s clean energy journey. By leveraging our expertise and cutting-edge technology, this partnership will drive large-scale renewable adoption,and contribute to India’s sustainability goals.”

He added, “Developing upto 7 GW of clean energy projects will further strengthen Andhra Pradesh’s position as a renewable energy hub and accelerate its transition towards a low-carbon economy.”

Also read: Tata Power Partners with Assam Government to Develop 5000 MW Renewable Energy

Gearing Up towards Feasibility and Development Studies

According to the MoU, TPREL will undertake feasibility studies and assessments to examine the viability of these renewable energy projects.

The New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) will facilitate the process by providing site identification and evacuation infrastructure support. This will enhance the state’s renewable energy capacity as well as the country’s mission for clean energy by TPREL.

EIB Grants €200 Million Loan to Latvenergo for Electricity Network Modernization

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An electric pole, used to represent the electricity network.
Latvenergo's upgraded power grid will enhance electricity supply and support Latvia's renewable energy goals by 2026.

The European Investment Bank (EIB) has provided Latvia’s state energy utility Latvenergo AS with a €200 million loan to upgrade the nation’s grid for electricity distribution. The investment is designed to modernize and make the grid more efficient so it can supply clean energy and respond to Latvia’s rising renewable energy demands.

Digital Upgrades and Reliability Improvement

Scheduled for delivery at the end of 2026, the project EIB is financing will connect sophisticated digital functions into Latvia’s energy grid. These enhancements will enhance the reliability of electricity supply overall for almost 1.9 million customers. The upgraded power grid will assist Latvia in achieving EU climate goals by helping encourage renewable energy and reduce carbon emissions.

Aiding Latvia’s Climate Objectives

Guntars Baļčūns, a Member of the Management Board of Latvenergo AS, stated that the company is investing in the transition to renewable energy and the modernization of the distribution network to make a significant contribution to the country’s economy.

He also mentioned that these goals require substantial financial resources, and the EIB offers access to competitive funding that supports both business and climate objectives. Baļčūns highlighted that the company’s successful cooperation with the EIB has lasted for over 25 years, and this loan will enable them to use the resources invested in solar and wind parks more efficiently.

Long-Term Support and Green Financing

The EIB funding provides good terms for Latvenergo, including flexible payments and an extended repayment period with market options. The assistance will also attract additional long-term investments and solidify Latvenergo’s dedication to green energy projects. The credit facility is also the seventh collaboration between Latvenergo and the EIB, highlighting their robust and consistent partnership.

Also read: EIB Grants €430 Million to Galp for Biofuels and Green Hydrogen Projects at Sines

Compliance with Latvia’s Energy and Climate Plan

The financing is in line with Latvia’s National Energy and Climate Plan 2021-2030 and the EIB’s Energy Lending Policy.It will not only support climate action, but also economic, social, and regional cohesion, ensuring that the energy transition benefits reach all parts of the country.