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NHPC shares in focus as co to invest Rs 5,500 crore in solar and green energy initiatives in Bihar

NHPC shares in focus as co to invest Rs 5,500 crore in solar and green energy initiatives in Bihar

An MOU was inked by NHPC Ltd and the Bihar government to spend ₹5,500 crore in green hydrogen and solar energy projects. At the Bihar Business Connect 2024 meeting, the corporation revealed its plans to build 1,000 MW solar power and green hydrogen mobility trial projects in the state.

Raj Kumar Chaudhary, NHPC Chairman and Managing Director, emphasized Bihar’s energy sector advancements and said that state assistance in land acquisition will be essential to the projects’ prompt completion.

With 9.3 GW of hydropower under construction and 7 GW of operating hydropower capacity, NHPC is one of India’s top producers of renewable energy. The business intends to set up a tiny solar facility in Bihar to generate green hydrogen, which would be used to power passenger buses.

Renewable energy is used to create green hydrogen, a clean energy source that emits no carbon. The hydrogen-powered buses will be funded by NHPC and given to the state government to support sustainable energy projects.

Chaudhary added that NHPC is carrying out comparable projects in Gujarat and other states, supporting the government’s efforts to promote green hydrogen as an environmentally friendly fuel. Green hydrogen will power one bus at first, with the possibility of expanding as solar power generation rises.

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