Andhra Pradesh government has announced a new Renewable Energy Export Policy 2020. The New and Renewable Energy Development Corporation of Andhra Pradesh Ltd, (NREDCAP) will be the nodal agency to implement the initiatives. The purpose of the policy is to export it without the power distribution companies (discoms) obligated about the procurement.
Apart from procuring, the agency will also would be arranged to procure and aggregate government and private lands in potential locations. The lands will be leased for 30 years for the Variable Renewable Energy (VRE) projects.
The NREDCAP will charge ₹ 31,000 per acre per year from the developers as lease rentals, with an escalation of five per cent every two years. The private land owners shall be paid ₹ 25,000 per acre per year till the completion of lease period with an escalation of five per cent every two years.
Incentives to be offered to the developers: For power generation units
Land use conversion from “Agriculture” use to “Non Agriculture” use shall be accorded by the government