NHPC is all set to 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.

The firm signed an MoU with the state government for the 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,” 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.