Holtec International plans clean energy plant in Bihar

Holtec International, a US-based $14 billion company which is into clean energy, mainly into nuclear and CSP solar, has reached an MoU with Government of Bihar for setting up a clean energy project during Bihar Business Connect which was held in Patna on 13-14 December. Holtec International, is United States based $14 billion company, active in clean energy, mainly into nuclear and concentrated solar power (CSP) segments. Their SMR 300, a patented technology for generation of nuclear energy, has been rated as one of the best in the class and currently the company is in the process of setting up nuclear power generation plant at Michigan.

The company has also patented solar power generation through the CSP technology called green boiler. It has signed an MoU with Government of Bihar for setting up clean energy project, with nuclear and solar energy with CSP technology. The initial cost of the proposed project is with an investment of Rs 2,200 crore.

The proposed plant will be based on concentrated solar power and green boiler. This technology will make the solar power as base load power, and its availability will not be dependent on any battery storage system, which are both expensive and environmentally dangerous.

Even though, the CSP power plant requires an initial investment several times higher compared to PV panels, however, if the cost of battery and replacement costs are included then the generation of solar power through CSP proves better and cheaper. The cost is comparable to the PV Solar + Battery and the life of the storage is around 30-40 years, whereas the battery requires replacement every 5-10 years.

There is no toxic disposal of battery involved in the proposed technology. The proposed plant will take 3-4 years to become operational post acquisition of land and clearances from the government agencies. It will provide employment to 5,000 people in the State, since the entire production except the “Heliostat-the mirror” of the plant will be undertaken locally. The promoter of the company, Dr K P Singh, a US-based entrepreneur who originally hails from Bihar, is very keen to go ahead with the investment plan for the State. Singh is recognized as pioneer in the nuclear and solar technology, holding more than 160 patents in United States.