Micro-Cap Company Secures Rs 138 Crore Order to Establish 20 MW AC Solar PV Project – EQ
Oriana Power, established in 2013, stands as a notable supplier of solar energy solutions catering to the industrial and commercial sectors in India and Africa. With a track record of delivering more than 100 MW of solar projects, Oriana Power operates through two primary business models: CAPEX and RESCO. In the CAPEX framework, the company undertakes the full spectrum of engineering, procurement, construction, and operation for solar projects. Alternatively, the RESCO model involves Oriana Power offering solar energy solutions under a BOOT (build, own, operate, transfer) arrangement.
Oriana Power Ltd, a prominent player in renewable energy, has been awarded a significant project of a 20 MW AC solar photovoltaic (PV) facility by Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India Limited (CIL). This partnership aims to establish a cutting-edge ground-mounted solar power plant in Dugdha Washery Area, Dhanbad, Jharkhand. Oriana Power will oversee the project’s entire lifecycle, including design, equipment procurement, construction, rigorous testing, seamless commissioning, integration with the transmission network, and a steadfast 5-year operation and maintenance commitment.
With an expected completion time of 12 months, the project’s estimated value is approximately Rs 138 crore, inclusive of GST and O&M charges. Once operational, this venture is anticipated to provide clean energy for over 10,000 homes and mitigate around 26,000 tonnes of CO2 emissions annually. This initiative aligns with Oriana Power’s dedication to fostering environmental progress and contributing to India’s sustainable energy transition.
On Tuesday, shares of the company surged by 5 per cent and reached its upper circuit limit of Rs 314.65.
Investors should keep a close eye on this buzzing stock.
