Four private companies will invest 28,000 crore in a thermal power project in Bihar, which will be the biggest private sector business venture in the state.

As a major advance in its field development, four top private power business organizations including Adani Power, JSW Energy, Torrent Power and Lalit Power of Bajaj Group have developed an interest in setting up a 2400 MW thermal power project in Pirpainti, Bhagalpur, and Bihar. It is a 28000 crore investment which is the largest business venture of the private sector in the power sector of the state so far.

The proposed project would be the construction of three 800 MW units and the proposed bidding process to be followed is Tariff Based Competitive Bidding (TBCB) wherein Bihar State Power Generation Company Limited (BSPGCL) would be the nodal agency. Applications were provided by business stakeholders following the call of BSPGCL regarding bidding on June 17, 2025, and the deadline was provided on July 11, 2025. Financial bids will be deemed open July 16.

It received an in-principle approval from the Bihar cabinet in February 2025 and already 1200 acres of land were acquired. The project consultant has been appointed as SBI Capital Markets. It is projected that the plant shall source coal at Eastern Coalfields Ltd. and water through the Ganga, subject to acceptance at a stipulated state level.

When it is completed, the plants will be mainly converted to handle the two power distribution companies in Bihar, and any excess electricity can be traded in the free market, strengthening the power supply as well as business expansion in the state.