Ashoka Buildcon's Rs 9,000 Cr Investment in Green Hydrogen Plant in Bihar
Key Ideas
- Ashoka Buildcon plans to invest Rs 9,000 crore in a green hydrogen plant in Bihar, with a focus on clean energy production.
- The company will set up a 1,250 MW solar project to power the plant, aiming to use clean electricity to produce green hydrogen by splitting water.
- The first phase of the project will be located in Begusarai and is expected to take 1.5-2 years to complete, with subsequent phases to follow.
- This investment aligns with Ashoka Buildcon's existing projects in highway construction, power distribution, and solar projects, showcasing its commitment to sustainability.
Ashoka Buildcon, a construction engineering company based in Maharashtra, has announced its plan to invest Rs 9,000 crore in establishing a green hydrogen plant in Bihar. The COO-Renewable Energy, Mayank Sharma, revealed this decision during the Bihar Business Connect 2024 event after signing a memorandum of understanding with the state government. The plant will leverage a 1,250 MW solar project to generate clean electricity for producing green hydrogen through water electrolysis. The initial phase of the project will be situated in Begusarai, Bihar, and is estimated to be completed within 1.5-2 years. Subsequent phases will be implemented thereafter. Green hydrogen, as a clean energy source, emits only water vapor when utilized. This initiative showcases the company's commitment to sustainability, in addition to its current involvement in highway construction, power distribution, and solar projects. Ashoka Buildcon's order book as of March 31, 2024, stood at Rs 11,697 crore, with significant portions allocated to roads, railway projects, and power transmission and distribution. Noteworthy projects include the construction of a link road to Navi Mumbai International Airport and the successful completion of a 150 MW solar power plant for NTPC in Rajasthan.
Topics
Green Hydrogen
Renewable Energy
Infrastructure
Sustainability
Investment
Solar Power
Construction
Memorandum Of Understanding
Order Book
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