NHPC to Invest INR 5,500 Crore in Bihar’s Renewable Energy Sector

NHPC has ambitious plans to invest INR 5,500 crore in Bihar's renewable energy sector, including solar power, floating solar, and energy storage solutions.

This was revealed by the company's Chairman and Managing Director (CMD), Raj Kumar Chaudhary, while speaking at the 'Bihar Business Connect 2024' summit. Chaudhary emphasised the importance of State government support in all stages of future renewable energy projects, from planning to implementation.

He further pointed out that while Bihar has made notable strides in the energy sector, NHPC is committed to making substantial investments in the State. He also revealed that NHPC has plans to formalise this commitment by signing a Memorandum of Understanding (MoU) with the State government soon.

The CMD also shared that Bihar's current installed power generation capacity stands at around 9,500 MW, with 9,000 MW of it coming from thermal sources. Given the State's dependency on thermal power, Chaudhary highlighted the significant opportunities for renewable energy investments, especially in battery storage solutions, which are crucial for ensuring a continuous supply of green power.

He further added that NHPC is already involved in several renewable energy projects across the country, including 18 MW, 50 MW, and 300 MW floating solar projects in Madhya Pradesh, Kerala, and Odisha. "The company sees similar potential in Bihar and is keen to explore investment opportunities there," he further noted.

Chaudhary also requested the State government's assistance in securing approvals and land for upcoming projects, referencing challenges faced by other companies. He specifically mentioned SJVN's struggle in acquiring land for two of its renewable energy projects in Bihar. Of a planned 200 MW project, SJVN has only secured land for 75 MW, highlighting the ongoing land acquisition challenges in the State.

The CMD reiterated the need for active support from the State government to ensure that such renewable energy initiatives can proceed smoothly and contribute to Bihar’s growing energy needs.