Oriana Power Secures ₹465 Crore Battery Storage System Order from NTPC Subsidiary

Oriana Power Limited has received a Letter of Award (LOA) from NTPC Vidyut Vyapar Nigam Limited (NVVN) for developing a standalone Battery Energy Storage System (BESS) in Rajasthan. The project involves setting up 125 MW/250 MWh capacity at the Giral Substation. NVVN is a wholly owned subsidiary of NTPC, responsible for power trading and renewable initiatives.

Contract Details 

The project will follow a Build-Own-Operate (BOO) model and has been awarded through a tariff-based competitive bidding process. As per the LOA, the battery storage system must support complete two-cycle charging and discharging on demand. Execution is expected within 18 months from the effective date of the Battery Energy Storage Purchase Agreement (BESPA).

Financial Consideration 

The total order value stands at ₹465.15 crore, inclusive of GST. This amount will be realised over a 12-year period starting from the project’s scheduled commissioning date. The project will also receive a Viability Gap Funding (VGF) of ₹67.5 crore based on the current estimated cost.

Functional Role

The battery energy storage facility will be established at the Giral Substation in Rajasthan. The standalone system is for supporting grid operations by managing demand-supply imbalances. BESS systems are typically used to store excess renewable energy and release it during periods of high demand or low generation.

Other Disclosures

The order is domestic in nature and has been issued by a government-owned entity. Oriana Power has confirmed that this is not a related party transaction and that no promoter or group companies have any stake or interest in the awarding entity.

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Oriana Power Share Price Performance 

As of 09:19 AM on July 8, 2025, Oriana Power share price was at ₹2,092, a 1.12% decrease. The stock is % over the past 6 months and % over the past year.

Conclusion

This project is among Oriana Power’s larger contracts in the battery storage segment. With a 2-cycle daily operation capacity and BOO structure, the development aligns with broader energy infrastructure upgrades planned across states like Rajasthan.

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