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Leading construction engineering company Ashoka Buildcon and state-owned NHPC Ltd have committed a massive investment of Rs 14,500 crore for Bihar’s green hydrogen and renewable energy sector through two different MoUs signed at Bihar Business Connect 2024 recently.
Massive Commitment by Ashoka Buildcon
Ashoka Buildcon is set to invest ₹9,000 crore to establish a green hydrogen plant in Bihar. This has been informed by Mayank Sharma, COO of Renewable Energy. The announcement was made during the Bihar Business Connect 2024, where the company signed an MoU with the state government of Bihar, formalizing its commitment to the project.
Based in Maharashtra, Ashoka Buildcon is primarily engaged in highway construction, power distribution, and solar energy projects. As part of this initiative, the company will develop a 1,250 MW solar power project to generate clean electricity for green hydrogen production through water electrolysis.
Mayank Sharma state that the first phase of the plant is planned for Begusarai district and the commissioning is expected to take 1.5 to 2 years once all necessary approvals are secured.
Green hydrogen, recognized as one of the cleanest energy sources, produces only water as a by-product when used as fuel.
NHPC to Invest ₹5,500 Crore
In a related development, NHPC Ltd signed an MoU with the Bihar government to invest ₹5,500 crore in solar energy and green hydrogen projects. NHPC aims to develop 1,000 MW of solar power and launch green hydrogen mobility pilot initiatives in the state, as announced at the summit.
NHPC, one of India’s leading renewable energy producers, currently operates 7 GW of hydropower capacity, with 9.3 GW under construction. As part of its Bihar initiatives, NHPC will set up a small solar plant to produce green hydrogen, which will be used to power passenger buses.
The company plans to finance hydrogen-powered buses and transfer them to the state government, promoting the shift to clean energy. NHPC Chairman and Managing Director Raj Kumar Chaudhary held that the support of the state government in land acquisition is important to ensure timely execution of RE projects.
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