October 17, 2024, India - Andhra Pradesh has launched the AP Integrated Clean Energy (ICE) Policy, aiming to attract ₹10 lakh crore in investments for solar, wind, and continuous renewable energy projects. This initiative targets net zero carbon emissions by 2047 and is projected to create 750,000 jobs.
The policy proposes incentives including:
Hassle-free land acquisition at reasonable prices.
Power subsidies for selected sectors.
Capital subsidies up to 25% for renewable energy manufacturing projects.
Waiver of stamp duties for mini-hydro and pump storage projects.
Reimbursement of net state GST for five years.
Electricity duty waivers and open access charges.
Andhra Pradesh aims to achieve:
78.5 GW of solar capacity.
35 GW of wind energy.
22 GW of pumped storage.
1.5 million tonnes per annum of green hydrogen manufacturing.
25 GWh of battery energy storage.
5,000 EV charging stations.
The initiative includes the establishment of the University for Green Energy and Circular Economy (UGC) to develop workforce skills, along with the Clean Energy Knowledge & Skill Development Center (CEKSDC) to foster partnerships with academia and industry.
The New and Renewable Energy Development Corporation of Andhra Pradesh (NREDCAP) will facilitate land access and support project approvals. The policy is set to operate for five years, aligning with the state's ambitious goal of becoming a leader in energy transition.