Ashoka Buildcon's Ambitious Plan for Green Hydrogen Plant in Bihar
Key Ideas
- Ashoka Buildcon to invest Rs 9,000 crore in a green hydrogen plant in Bihar utilizing electricity from a 1,250 MW solar project.
- The plant, located in Begusarai, aims to produce green hydrogen, the cleanest energy source that only results in water when burnt.
- The project is expected to take 1.5-2 years for the first phase to commission, with plans for further expansion in the future.
- The construction engineering company also has significant orders in roads, railways, power distribution, and has completed notable projects like a 150 MW solar power plant for NTPC.
Ashoka Buildcon, a construction engineering company, revealed plans to invest Rs 9,000 crore in establishing a green hydrogen plant in Bihar. The COO-Renewable Energy, Mayank Sharma, announced this significant investment during the Bihar Business Connect 2024 event after signing a memorandum of understanding with the state government. The company intends to set up a 1,250 MW solar project to generate clean electricity for producing green hydrogen through water electrolysis. This green hydrogen plant will be based in Begusarai, Bihar, and is considered the cleanest energy source as it only emits water when burned. The project is set to have a phased approach, with the first phase expected to be operational within 1.5-2 years of obtaining all necessary clearances. Following the initial phase, the company plans to proceed with the subsequent phases. Ashoka Buildcon's order book as of March 31, 2024, stands at Rs 11,697 crore, with a significant portion allocated to roads, railways, and power transmission and distribution projects. Notable projects include a Rs 662.55 crore JV contract with CIDCO for constructing a link road to Navi Mumbai International Airport and the successful completion of a 150 MW solar power plant for NTPC in Rajasthan.