Ashoka Buildcon, a leading construction engineering firm, has announced plans to invest ₹9,000 crore in establishing a green hydrogen plant in Bihar. The company signed a memorandum of understanding (MoU) with the state government during the Bihar Business Connect 2024 event to solidify its commitment to the project. Mayank Sharma, COO of Renewable Energy at Ashoka Buildcon, disclosed that the plant would utilize a 1,250 MW solar project to generate clean electricity, which will then be used to produce green hydrogen through water electrolysis.
The first phase of the plant is set to be established in Begusarai, Bihar, and is expected to take 1.5 to 2 years to become operational after receiving the necessary clearances. The second phase will follow subsequently. Green hydrogen, the cleanest form of energy, produces only water as a byproduct, aligning with global efforts to reduce carbon emissions and transition to sustainable energy solutions.
Ashoka Buildcon, based in Maharashtra, has a diverse portfolio encompassing highway construction, power distribution, and solar projects. As of March 31, 2024, the company reported an order book of ₹11,697 crore, with 53% allocated to roads and railway projects and ₹4,796 crore to power transmission and distribution (T&D). Notable projects include a ₹662.55 crore joint venture for constructing a link road to Navi Mumbai International Airport (NMIA) and a 150 MW solar power plant project completed for NTPC in Rajasthan.
The green hydrogen initiative marks a significant step for Ashoka Buildcon in diversifying its renewable energy portfolio while contributing to India's clean energy goals.
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