Patna govt signs MoUs worth ₹5k cr to develop 2,357MW green power
The MoUs were formalised during the launch of two ambitious policies — the Bihar Policy for Promotion of New & Renewable Energy Sources 2025 and the Bihar Policy for Promotion of Pumped Storage Project 2025 — at an event held at Gyan Bhawan. These policies are aimed at fostering green energy development and attracting major investment into the sector.
The renewable energy policy is expected to unlock massive opportunities in solar, wind, biomass and newer technologies like green hydrogen and pumped storage systems.
Energy minister Bijendra Prasad Yadav formally launched the two policies in the presence of industries minister Nitish Mishra, additional chief secretary of the industries department Mihir Kumar Singh, energy secretary Manoj Kumar Singh and the managing director of
Bihar State Power Generation Company
Ltd (BSPGCL) Mahendra Kumar. Several industry leaders and public sector representatives were also present.
Among the MoUs signed, the BSPGCL partnered with L&T to establish a 116MW/241 MWh battery energy storage project at Kajra in Lakhisarai with an investment outlay of ₹837 crore. It also signed an MoU with NTPC Green to develop a 1,000MW battery energy storage system (BESS) with an estimated cost of ₹1,500 crore.
Separately, the Bihar Renewable Energy Development Agency (BREDA) inked an MoU with Avaada Group to develop 1,000 MW of ground-mounted and floating solar projects, subject to feasibility. BREDA also joined hands with SECI Ltd to set up floating solar and other renewable energy projects, cumulatively valued at ₹3,000 crore.
Addressing a gathering of representatives from leading renewable energy firms, PSUs and industry stakeholders, energy minister Yadav urged investors to look towards Bihar's growing potential.
"We want to tap solar energy, a non-conventional source, for Bihar's development. For this, we have introduced a new policy. The policy is aimed at protecting our future generations. We need investment in the renewable energy sector for the country's development and the creation of employment opportunities," Yadav said.
He added, "We must reduce carbon emissions to mitigate the effects of global warming and safeguard human lives."
Urging industry not to be swayed by isolated incidents of crime, Yadav said, "Come and invest in Bihar. If required, we are open to amending the policy in future. Don't judge the state by a few incidents. Bihar has made significant progress."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
6 hours ago
- Time of India
India's battery storage operations become profitable for 1st time in 2024: Report
India's battery energy storage systems (BESS) operating without fixed contracts - known as merchant BESS - turned profitable for the first time in 2024 and new battery projects commissioned in 2025 could deliver internal rates of return (IRR) of 17 per cent by operating in power exchanges, due to potential fall in upfront costs, a report said on Tuesday. Falling battery costs and higher earnings from volatile power markets drove this shift, Ember, an energy think tank, said in its report. According to the report, battery costs have declined by around 80 per cent over the past decade to ₹1.7 million per megawatt-hour (MWh) in 2025 from ₹7.9 million/MWh in 2015. At the same time, potential revenues from market participation have increased fivefold in the same period to ₹2.4 million/MWh in 2025 from INR 0.5 million/MWh in 2015. As a result, in 2024, merchant BESS revenues surpassed costs for the first time, making it a bankable electricity grid asset, the report stated. "Merchant BESS has often been viewed as a low-return investment. But the changing dynamics of the wholesale power market, with rising price volatility, coupled with falling battery costs, have made it a commercially viable investment opportunity today," said Duttatreya Das, energy analyst at Ember. "Battery systems charge when power is cheap and abundant -- typically during sunny hours -- and sell electricity back to the grid when demand surges and prices peak, making it well-suited to manage price volatility and generate handsome revenues while doing so," he added. As per the report, the peak prices are reaching new highs in the day-ahead market (DAM) segment of power exchanges, while troughs are getting deeper. This increased price volatility in the day-ahead market in recent years has created more opportunities for merchant batteries to create value. As the electricity prices nearly hit the current cap of ₹10/kilowatt-hour (kWh) in one out of every six hours between 2022 and 2024. Similarly, average midday power prices fell nearly 20 per cent from 2022 to 2024 during the summer months, the report highlighted. According to the report, the power prices are likely to move on the exchanges, forecasting that by participating in DAM alone, merchant BESS investments can offer an internal rate of return of up to 17 per cent from an investment made in 2025. "There are multiple use cases for batteries: participation in the merchant market is one that's been somewhat under-appreciated till now," said Satyadeep Jain, Director - Equity Research at Ambit Private Limited
Time of India
8 hours ago
- Time of India
India identifies over 200 GW pumped hydro storage potential, 8 GW under construction
New Delhi: India has identified a pumped storage potential of more than 200 gigawatts (GW) across the country, with approximately 8 GW currently under construction and 61 GW in various stages of planning and development, the Ministry of Power said. The update was shared during a Consultative Committee meeting of the Ministry of Power, chaired by Union Minister for Power and Housing Affairs Manohar Lal. The meeting, held on August 4, focused on India's energy storage roadmap and future energy security. It was attended by Minister of State for Power and New & Renewable Energy Shripad Yesso Naik, MPs from the Lok Sabha and Rajya Sabha, senior ministry officials, Central PSUs, and experts from the Central Electricity Authority. According to the Ministry, India already has an installed capacity of about 6.4 GW of pumped storage projects (PSPs). The Minister said the development of PSPs is being supported through various policy measures including full waiver of Inter-State Transmission System (ISTS) charges for projects whose construction is awarded by June 2028. The Ministry also highlighted that under its Viability Gap Funding (VGF) scheme, ₹9,160 crore has been earmarked to support 43 GWh of Battery Energy Storage Systems (BESS). This is being positioned as one of the largest BESS initiatives globally. The Minister said that promoting renewable energy with energy storage systems is necessary to ensure reliable supply by storing excess renewable generation for use during peak demand. He added that the government is committed to reducing the emissions intensity of GDP by 45 per cent from 2005 levels and achieving 50 per cent of installed capacity from non-fossil fuel sources by 2030. Members of the committee appreciated the VGF scheme and the role of smart meters in improving service and reducing losses. They also praised the use of BESS for storing surplus renewable energy for use at other times of the day. The Union Minister instructed officials to take necessary steps to incorporate the suggestions made by members. In his closing remarks, Minister of State Shripad Yesso Naik said India had already achieved 50 per cent of its installed electricity capacity from non-fossil sources, five years ahead of the 2030 target. He emphasized the role of Energy Storage Systems (ESS) in enabling a reliable and flexible power system across generation, transmission, distribution, ancillary services, and electric mobility.
Indian Express
12 hours ago
- Indian Express
IT professional claims his salary went from Rs 26 lakh to Rs 70 lakh in just 2 job switches, sparks debate on X
IT professionals or techies in India often share their journeys and experiences in the industry on social media, inspiring young engineers. Saurabh Yadav, a software engineer who has previously worked with Flipkart, took the Internet by storm after he revealed that his salary jumped from Rs 26 lakh to Rs 70 lakh in just two job switches, that too without an IIT or MBA degree. In a post on X, Yadav claimed, 'first job: ₹26LPA second: ₹28LPA third: ₹70LPA no IIT. no MBA. just worked hard. what about you?' The post garnered over 3 million views and a wide range of reactions, while sparking a debate over educational institutions and job opportunities in India. See the viral post here: first job: ₹26LPA second: ₹28LPA third: ₹70LPA no IIT. no MBA. just worked hard. what about you? — Saurabh ✧ (@saurabhyadavz) August 3, 2025 Several IT professionals and aspirants reacted to the post, with one saying, 'You switched from first to second for 7.7% hike? And for how much time did you work in the 2nd job?' Responding to it, Yadav wrote, 'It's a long story, man. I had no choice but to accept what I got. I resigned first, then joined a fraudulent startup, and then left and had to join somewhere so yea.' It's a long story, man. I had no choice but to accept what I got. I resigned first, then joined a fraudulent startup, and then left and had to join somewhere so yea… — Saurabh ✧ (@saurabhyadavz) August 3, 2025 'First job cycle, second job rickshaw, third job auto. Just work less harder,' another user commented, while a third said, 'This post makes me feel depressed.' Yet another netizen shared their frustration: 'Just working hard with each passing day. Every time I convert it, it converts into a failure. Every time sit at the table and chair increases my efforts. Same result again and again. If possible, then guide me right now, most confused between what to do and what not to do.'
