Oriana Power Ltd bags Rs 14.88 crore Solar power plant order

Expansion Through EPC

Oriana Power Ltd has secured a significant contract to supply a 3MWp turnkey solar power plant under the Engineering, Procurement, and Commissioning (EPC) segment. Valued at Rs 14.88 crore, this project marks Oriana’s entry into the state of Goa and the shipping industry. The Mormugao Port Authority, which entrusted Oriana Power with this project, is a key player in India’s maritime sector.

This contract win highlights the effectiveness of Oriana Power’s EPC model. As the single point of contact for the entire project lifecycle, Oriana Power handles all aspects, including design, engineering, procurement, and construction. This streamlined approach ensures efficient communication, clear decision-making, and adherence to deadlines and budgets. Additionally, Oriana Power leverages its strong supplier relationships to secure cost-effective materials and equipment, maximizing project value for clients. Furthermore, by assuming project risks, Oriana Power mitigates potential issues like design errors or construction delays. This focus on quality and accountability ensures the delivery of high-performing solar power plants that meet industry standards.

The successful execution of this project can pave the way for future collaborations with other port authorities and maritime entities in India. As the country strives for cleaner energy solutions, solar power plants offer a sustainable and cost-effective alternative for industrial and commercial operations. By showcasing its expertise in the EPC segment, Oriana Power positions itself as a reliable partner for companies seeking to transition towards renewable energy sources.

Recent Orders

Oriana Power recently secured several new orders that will bolster their project portfolio. They received a contract to build a 1.3MWp solar power plant under the RESCO model for Hindustan Aeronautics Ltd. Additionally, they secured an EPC contract worth Rs 18.67 crore for a 6.7MWp solar power plant.

Further diversifying their offerings, Oriana was awarded a contract to develop a 21-ton-per-day Compressed Bio Gas (CBG) plant in Maharashtra for Rs 56.47 crore, marking their entry into the CBG sector.

Oriana’s subsidiary, Truere Up 2 Private Limited, also received a 6.221MWp solar power project under the RESCO model. Moreover, their subsidiary, Truere Del Private Limited, secured contracts to install rooftop solar power plants totaling 4.718MWp on Ministry of Home Affairs buildings, generating recurring revenue for 25 years. All projects are expected to be completed in the financial year 2024-25.

About Oriana Power Ltd

Oriana Power Limited is a leading provider of solar energy solutions tailored for industrial and commercial clients. With expertise in various verticals such as Floating Solar Panels, Ground Solar Power Plants, Solar Parks, Rooftop Solar installations, Carport Solar structures, Battery Energy Storage Systems, HYBRID ENERGY SOLUTIONS, and Hydrogen Electrolyzers, Oriana Power caters to diverse energy needs.

Specializing in the RESCO (Renewable Energy Service Company) business model, Oriana Power enables clients to pay for solar power on a per-unit basis, promoting cost-effectiveness and sustainability. Additionally, Oriana Power leverages the EPC (Engineering, Procurement, and Construction) contracting model, offering comprehensive solutions that encompass project design, procurement, and construction. Positioned to capitalize on India’s burgeoning solar market, Oriana Power brings extensive experience and innovation to the renewable energy sector.

Financial Performance and Market Response

The market response to Oriana Power Limited’s recent developments has been positive. Oriana Power Ltd’s shares closed at Rs 712.3, reflecting a surge of 5% compared to yesterday’s closing value of Rs 677.80. The stock’s 52-week high stands at Rs 919.70 while its lowest point during the same period was Rs 271.90. Over the past year, the company’s shares have yielded multibagger returns of 138%. Presently, the stock is trading at a 22.55% discount from its highest price in the past 52 weeks.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.