Axis Energy Secures Green Light for 400 MW Hybrid Push, Paving Way for Andhra’s Clean Power Future – EQ
In Short : Axis Energy has received APERC approval for 400 MW of wind-solar hybrid projects in Andhra Pradesh through four SPVs. These projects, aligned with the state’s BBB scheme, aim for high efficiency and stable tariffs. The initiative supports Andhra’s 2030 renewable energy targets, promotes job creation, and boosts clean energy innovation in the Rayalaseema region.
In Detail : Axis Energy Ventures India Pvt Ltd (AEVIPL) has secured approval from the Andhra Pradesh Electricity Regulatory Commission (APERC) for four amended Power Purchase Agreements (PPAs). These agreements, made with the Southern Power Distribution Company of Andhra Pradesh Limited (APSPDCL), collectively represent a capacity of 400 MW in wind-solar hybrid energy.
The 400 MW capacity will be distributed equally among four Special Purpose Vehicles (SPVs), with each contributing 100 MW. These projects fall under the state’s Bundling, Balancing, and Banking (BBB) scheme, designed to integrate and manage hybrid renewable energy sources efficiently.
These hybrid projects are a part of Andhra Pradesh’s larger goal to reach 72.3 GW of renewable energy capacity by 2030. This aligns with India’s national clean energy ambition of achieving 500 GW of non-fossil fuel capacity within the same timeframe. The projects are expected to deliver over 60% capacity utilization, which is notably high for hybrid systems.
In terms of financial structure, the tariffs for these projects are pegged to the Average Power Purchase Cost (APPC). Additionally, there is a clause for a 50:50 benefit-sharing on Renewable Energy Certificates (RECs), ensuring mutual financial gains for both the state and the developer.
The approval was granted following a directive from the Government of Andhra Pradesh, issued in September 2024 under Section 108 of the Electricity Act, 2003. This directive instructed APERC to move forward with the necessary approvals, reinforcing the state’s commitment to renewable energy growth and contractual adherence.
This initiative is expected to act as a pilot for potentially unlocking up to 10,000 MW of future hybrid energy development in Andhra Pradesh. Besides enhancing grid stability and power reliability, the project is anticipated to generate employment and foster innovation in renewable energy technology through academic and industrial collaboration.
