Bihar Business Connect 2024: Ashoka Buildcon to Invest INR 9000 Crore in Green Hydrogen Plant
Ashoka Buildcon plans to invest INR 9,000 crore in a green hydrogen plant in Begusarai, Bihar, supported by a 1,250 MW solar project, stated the company’s COO of Renewable Energy, Mayank Sharma at the Bihar Business Connect 2024.
December 21, 2024. By Mrinmoy Dey
The company signed an MoU with the Bihar government to set up a 1,250 MW solar project to power the production of green hydrogen by water electrolysis. The first phase of the plant, planned in Begusarai, is expected to be commissioned within 1.5-2 years after obtaining all necessary clearances, with the second phase to follow.
Ashoka Buildcon, primarily engaged in highway construction, power distribution, and solar projects, reported an order book of INR 11,697 crore as of March 2024. Key projects include an INR 662.55 crore contract for a Navi Mumbai International Airport link road and a completed 150 MW solar power plant for NTPC in Rajasthan.
Overall, the state has received investment proposals worth INR 1.81 lakh crore, spanning sectors like renewable energy, food processing, and manufacturing. The renewable energy sector received the highest investment interest, with INR 90,734 crore proposed for 17 units.
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