To attract investments and create employment in the energy sector, the government of Andhra Pradesh prepared the “Integrated Energy Policy” (IEP).
This will be a single policy applicable for solar, wind, battery storage, electrolyzers, biofuel, PSP and Hybrid Energy Projects. Through this policy, the government aims to attract investments worth Rs. 10 lakh crore and create around 7.75 lakh jobs in the next five years.
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By promoting Green Energy projects, the government aims to attract international investments through this policy. In addition to providing subsidies for green hydrogen, green ammonia, electrolyzer manufacturing, biofuel, battery storage, and PSP projects, the government is also offering investment subsidies under this policy.
The government is further offering banking services to companies establishing electricity plants in the state, including regulations for power reuse.
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By easing regulations in the circular economy, the government plans to attract investments and create employment in all mentioned energy sectors.
The government also aims to promote electric vehicle usage across the state. As part of this effort, plans are underway to establish 500 EV charging stations over the next five years, offering a 25% investment subsidy.
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Plans include setting up 150 EV charging points in cities and district headquarters, 150 on highways, and the remaining 200 in private structures.
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