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

Shares of NHPC may remain in focus today as the company’s Chairman and Managing Director, Raj Kumar Chaudhary, announced on Friday that NHPC will invest Rs 5,500 crore in setting up a 1,000-megawatt solar power project in Bihar.

The firm signed a Memorandum of Understanding (MoU) with the state government for this investment at the Bihar Business Connect 2024 investor summit.

"We have proposed to invest Rs 5,500 crore in setting up a 1,000 MW solar power project. The land is crucial for solar projects, and we would urge the state government to facilitate land acquisition so that we can complete the project on time," he said.


The project is expected to be completed within 1.5-2 years from the date of land acquisition.

The company currently has nearly 7 gigawatts of operational hydropower plants, with an additional 9.3 gigawatts under construction, according to its website.

Chaudhary also mentioned that NHPC is proposing to set up a small solar plant, with the electricity generated being used to produce green hydrogen.

"The green hydrogen produced will be used to power passenger buses," he added.

Green hydrogen, produced by splitting water using green energy, is the cleanest known energy source as it produces no carbon emissions and only water when burned.

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NHPC is also working on similar projects in Gujarat and other states.

"The government is keen on promoting green hydrogen as a fuel, and our plan aligns with that vision," he said.

Initially, NHPC plans to run one bus on green hydrogen, with the number expected to increase as more solar power is generated.

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