Patna: NHPC Ltd, India's largest hydropower company, will invest Rs 5,500 crore in setting up a 1,000-megawatt solar power project in Bihar, its chairman and managing director Raj Kumar Chaudhary said Friday. The firm signed an MoU with the state government for the investment at the Bihar Business Connect 2024 investor summit here.
"We have proposed to invest Rs 5,500 crore in setting up a 1,000 MW solar power project," he said. The project could be set up in 1.5-2 years from the date of land acquisition.
"Land is crucial for solar projects. And we would urge the state government to facilitate land acquisition so that we could do the project on time," he said.
The company has almost 7 gigawatts of operational hydropower plants and 9.3 gigawatts of capacity is under construction, according to its website.
Chaudhary said NHPC is also proposing to set up a small solar plant, electricity from which would be used to make green hydrogen. "The green hydrogen produced will be used to power passenger buses," he said.
Green hydrogen, produced by splitting water using green energy, is the cleanest known energy source as it produces no carbon and only water when burnt.
He said the green hydrogen-powered bus will be financed by NHPC. It will be provided to the state government for running as part of the government's initiative to promote clean energy sources. NHPC is doing similar projects in Gujarat and other states.
"The government is keen that green hydrogen is promoted as fuel and our plan is in line with that," he added. Initially, NHPC plans to run one bus on green hydrogen and the number could be doubled as more solar power is produced.
