NHPC Ltd to Invest Rs 5,500 Crore in Solar Power Project in Bihar
Key Ideas
- NHPC Ltd is investing Rs 5,500 crore in a 1,000 megawatt solar project in Bihar, showcasing commitment to clean energy.
- The company's chairman announced the initiative at the Bihar Business Connect 2024 summit, emphasizing efficient land procurement for timely execution.
- NHPC also plans to establish a small solar plant for green hydrogen production to power passenger buses, aligning with government goals for green fuel usage.
- This investment is part of NHPC's broader strategy to promote clean energy and support India's clean fuel advancement objectives.
NHPC Ltd, India's primary hydropower company, has revealed plans to invest Rs 5,500 crore in a significant solar power initiative in Bihar. The company, led by chairman and managing director Raj Kumar Chaudhary, aims to establish a 1,000 megawatt solar project in the state. This announcement was made at the Bihar Business Connect 2024 summit, where NHPC signed a Memorandum of Understanding (MoU) with the Bihar government for this venture. The solar project is anticipated to be operational within 1.5 to 2 years post land acquisition. NHPC's focus on efficient land procurement highlights the importance of meeting project timelines effectively. Additionally, NHPC is looking to set up a small solar plant to produce green hydrogen, with a specific goal of powering passenger buses. This move is in line with NHPC's strategy to promote clean energy and aligns with similar initiatives taking place across India. The company's commitment to green fuel usage falls in line with the government's objectives to advance the adoption of clean energy sources nationwide.