Ashoka Buildcon to Invest in Green Hydrogen Plant in Bihar
Key Ideas
- Ashoka Buildcon plans to invest Rs 9,000 crore in a green hydrogen plant in Bihar, along with a 1,250 MW solar project.
- The company aims to produce green hydrogen, a clean and sustainable energy source, using solar power to split water, with no harmful emissions.
- The first phase of the plant will be in Begusarai, Bihar, with an expected timeline of 1.5 to 2 years for commissioning, followed by a second phase.
- Green hydrogen is seen as an ideal alternative to fossil fuels due to its environmentally friendly nature and the absence of harmful emissions.
Ashoka Buildcon, a prominent construction engineering company, has unveiled plans to invest Rs 9,000 crore in setting up a green hydrogen plant in Bihar. The company's Chief Operating Officer for Renewable Energy, Mayank Sharma, announced this investment during the Bihar Business Connect 2024 event where Ashoka Buildcon also signed an MoU with the state government. Alongside the hydrogen plant, the company will establish a 1,250 MW solar project to generate clean energy for the hydrogen production process by electrolyzing water. The initial phase of the project will be situated in Begusarai, Bihar, with an estimated completion timeline of 1.5 to 2 years, subject to obtaining necessary approvals. The subsequent phases will follow the completion of the first phase. Green hydrogen is recognized as a sustainable and emission-free energy source, positioning it as a viable substitute for traditional fossil fuels. Ashoka Buildcon's venture into green hydrogen aligns with its existing portfolio, which includes significant projects such as road construction, power distribution, and solar energy initiatives.