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Oriana Power Ltd. Secures Rs. 155 Crore Contract for Solar Plant in Rajasthan

11 July 20243 mins read by Angel One
Oriana Power Ltd. secures a Rs. 155 crore contract to build a 40 MWp solar plant in Rajasthan, with a nine-month project timeline and 25-year maintenance commitment.
Oriana Power Ltd. Secures Rs. 155 Crore Contract for Solar Plant in Rajasthan
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Oriana Power Limited, established in 2013, operates primarily in two key business sectors. The company specializes in Engineering, Procurement, and Construction (EPC) services for solar power projects. Additionally, Oriana Power Ltd. offers solar energy solutions through the BOOT (Build, Own, Operate, Transfer) model. This dual focus allows Oriana to not only construct and maintain solar facilities but also to provide comprehensive energy solutions that align with sustainable development goals.

Details of the Contract

Oriana Power Ltd. has announced a significant contract win, securing an order valued at Rs. 155 crore. The contract pertains to the development of a 40 MWp solar plant in Rajasthan, designated under the captive segment. According to the exchange filing, Oriana’s responsibilities encompass the entire spectrum of project execution, including engineering, procurement, construction, commissioning, as well as operation and maintenance of the solar power facility.

Timeline and Long-term Commitment

The project is slated for completion within a concise timeline of nine months from the contract’s initiation. Post-commissioning, Oriana Power Ltd. will oversee the operation and maintenance of the solar plant for a substantial period of 25 years. This long-term commitment underscores Oriana’s strategic approach towards sustainable energy infrastructure development in India.

Impact on Oriana Power Ltd.

This contract win not only strengthens Oriana Power Ltd.’s position in the renewable energy sector but also underscores its expertise in delivering large-scale solar projects. The company’s capability to execute and manage such ventures reinforces its commitment to advancing sustainable energy solutions across the country.

Conclusion:  Oriana Power Ltd.’s latest contract for the 40 MWp solar plant in Rajasthan marks a significant milestone in the company’s growth trajectory. With a robust execution timeline and a long-term maintenance commitment, Oriana is poised to contribute significantly to India’s renewable energy landscape for years to come. This development highlights the company’s strategic focus on expanding its footprint in the solar power segment while enhancing its capabilities in project management and sustainable energy operations. The stock of Oriana Power is currently locked in an upper circuit of 5% at Rs.2,408.45 per share.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions

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