Major Companies Sign MOUs for Renewable Energy Investments in Bihar
Key Ideas
- Companies like Ashoka Buildcon, NTPC Green, and Sun Petrochemicals have committed significant investments in renewable energy projects in Bihar.
- The total investment proposals in Bihar across various sectors amount to INR 1.8 lakh crore, with a substantial portion dedicated to renewable energy.
- The memorandum of understanding between investors and the state government was signed during the Bihar Business Connect 2024 event.
- The investments include funds for solar plants, pumped storage, green hydrogen production, and other renewable energy initiatives.
The Bihar Business Connect 2024 event saw major companies like Ashoka Buildcon, NTPC Green, SJVN, Sun Petrochemicals, and others signing memorandum of understanding with the Bihar state government for investments in renewable energy. The total investment proposals received by Bihar amount to INR 1.8 lakh crore, out of which INR 90,734 crore is dedicated to the renewable energy sector alone. Sun Petrochemicals pledged INR 36,700 crore for renewable energy projects including pumped hydro storage and solar plants. NTPC Green, SJVN, and NHPC also committed substantial funds for solar plants and pumped storage projects. Notably, Ashoka Buildcon, a construction engineering company from Maharashtra, has announced an investment of INR 9,000 crore for establishing a green hydrogen production plant in Bihar. Overall, the investments signify a positive outlook towards the development of renewable energy infrastructure in Bihar.