Andhra Pradesh Emerges as Investment Hub: CM Chandrababu!

Andhra Pradesh Chief Minister N. Chandrababu Naidu stated that the state is regaining investor confidence and positioning itself as a premier destination for industries. Speaking at the foundation stone ceremony of a ₹5,400 crore solar panel and ingot wafer manufacturing unit by ReNew Energy Global in Rambilli, Anakapalli district, he criticized the previous administration for policy instability, corruption, and mismanagement in the power sector. He asserted that the current government has stabilized the sector, reduced financial burdens, and ensured that electricity tariffs have not been increased for 1.13 crore domestic consumers over the past 22 months. He also assured that power tariffs would remain unchanged in the future.

Highlighting the state’s clean energy vision, the Chief Minister announced plans to generate 160 GW of renewable energy, attracting investments worth ₹10 lakh crore and creating employment for 7.5 lakh people. He revealed that 117 projects have already been approved, bringing in ₹5.95 lakh crore investments and generating 4.76 lakh jobs. The government aims to transform every household into a power generation unit by installing rooftop solar systems, with subsidies for various sections. He also announced the introduction of 1,050 electric buses in APSRTC and plans for 5,000 EV charging stations in the next three years. ReNew Chairman Sumant Sinha emphasized that Andhra Pradesh would become a key hub for solar energy manufacturing, with significant investments and local employment opportunities.