Oriana Power Shares Surge 9% After MoU with Rajasthan Govt for ₹10,000 Crore Renewable Energy Projects – EQ
In Short : Oriana Power shares surged 9% after signing an MoU with the Rajasthan government to develop renewable energy projects worth ₹10,000 crore. The agreement focuses on advancing solar and green energy initiatives in the state, boosting sustainable infrastructure. This collaboration highlights Oriana Power’s commitment to clean energy and strengthens investor confidence in its growth prospects.
In Detail : Shares of Oriana Power Ltd, a leading renewable energy solutions provider, soared nearly 9% today after the company announced a significant collaboration with the Rajasthan government. Oriana Power has signed a Memorandum of Understanding (MoU) for renewable energy projects worth Rs 10,000 crore, marking a major step toward its expansion in India’s clean energy sector.
The stock surged 8.79%, reaching Rs 2,699.95 per share, up from its previous closing price of Rs 2,481.65 on the NSE. Notably, Oriana Power is not listed on the BSE. The company’s market capitalization surged to Rs 5,447.67 crore. A total of 65,000 shares changed hands, resulting in a turnover of Rs 17.25 crore on the NSE.
In 2024 alone, Oriana Power’s stock has gained an impressive 461%, with a 428% rise over the past year.
The MoU with the Rajasthan government is part of the “Rising Rajasthan 2024” initiative, aiming to explore renewable energy investment opportunities in solar power, floating solar, green hydrogen, and energy storage solutions. The project is expected to provide direct employment to around 4,000 people and is slated to begin in 2025.
Oriana Power’s strategic goal is to contribute to India’s renewable energy objectives and position the company as a leader in clean energy infrastructure. The MoU follows a series of discussions with the Government of Rajasthan starting in November 2024, culminating in the formal agreement signed on December 4, 2024.
Oriana Power operates across various segments of the power industry, including power generation, and the engineering, procurement, and construction (EPC) of power projects.
