Bihar Business Connect 2024 has turned out to be a milestone for the state, with investments worth ₹1.81 lakh crore across various sectors. A major highlight of this event is ₹90,734 crore has been committed to renewable energy, strengthening Bihar’s ambition to become a green energy hub.

Among the major renewable energy investments:

  • Sun Petrochemicals leads with a commitment of ₹36,700 crore for pumped hydro storage and solar plants.
  • NTPC Green the renewable arm of NTPC, pledged ₹10,000 crore to develop solar energy projects.
  • SJVN  matched NTPC Green with another ₹10,000 crore investment in a pumped storage project.
  • NHPC  committed ₹5,500 crore to establish a 1,000 MW solar project.
  • Ashoka Buildcon a Maharashtra-based company, announced a ₹9,000 crore investment for a green hydrogen production plant in Bihar.
  • Surya International and HPCL have pledged ₹1,000 crore and ₹500 crore, respectively, to renewable initiatives.

The Industries and Tourism Minister, Nitish Mishra, expressed pride in the state’s achievement, saying that this was only the second investor meet, yet it secured record-breaking commitments. “Ab humara samay hai (The time for Bihar has come),” Mishra declared, emphasizing the state’s willingness to support investors and transform commitments into reality.

Bihar’s infrastructure development, including improved roads, highways, industrial parks, and nearly 24×7 electricity, has played a key role in attracting investments. A total of 423 MOUs worth ₹1,80,899 crore have been signed which shows investors’ interest in the Bihar government and policies.

This event follows the success of the first edition in 2023, which saw commitments worth ₹50,300 crore. The Industries Department has since implemented a mechanism with sector-specific nodal officers to ensure MoUs translate into on-ground projects.

The investments reflect Bihar’s transition from a laggard to an emerging industrial and renewable energy destination, paving the way for sustainable growth and economic progress.

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