Oriana Power Gets 128 MW Solar Project In Tamil Nadu

Oriana Power Gets 128 MW Solar Project In Tamil Nadu

Oriana Power Limited subsidiary, TrueRE Surya Private Limited, today received a contract from Dalmia Cement (Bharat) Limited, (DCBL), a subsidiary of Dalmia Bharat Limited in Tamil Nadu. Under the contract, Oriana Power will build and operate up to 128 MW ground-mounted solar power plant in the state. This project falls under the open-access captive solar power plant segment.

The cost of the solar power plant is tentatively pegged at Rs 520 Crore. This project is expected to be commissioned within the next 12 months. The project once completed, is expected to generate 1,920 lakh electricity units per annum and support Dalmia group’s commitment towards RE100 by 2030 and carbon negative by 2040.

As part of the contract, DCBL has also entered into a share subscription and shareholders agreement (SSSHA), to acquire 26% of the equity share capital of TrueRE Surya Private Limited, for a consideration of Rs. 44.8 Crore, in one or more tranches. This agreement is for sourcing solar power as a captive consumer for up to 128 MW and the transaction is expected to be completed within four to six months.

Anirudh Saraswat, Chief Business Officer of Oriana Power Limited said, “We are also humbled by the trust posed in Oriana Power’s ability to execute mega solar projects by the largest companies and are equally excited to take another big step forward in helping India meet its renewable energy goals through this partnership.”

Oriana Power last week received a new solar project order from Bharat Petroleum Corporation Limited worth Rs. 247.88 Crores for a ground-mounted solar power project with a total capacity of 52 MW, under the EPC segment. With the new project wins, the company now has more than 570 MW of cumulative capacity under execution. The company has delivered more than 240 MW of cumulative projects so far.

Oriana Power has a diverse portfolio of projects spread across 22 states in India. The company has tied up approximately 920 Acres of land bank across India for Renewable Energy projects. Going forward, the company is aiming to expand to the Middle East, Africa, and Europe.

Oriana also recently announced a strategic tie-up with US-based Green Hydrogen electrolyser manufacturer, Splitwaters. Oriana also said it will commission a Giga-factory for producing electrolysers and Balance of Plant (BOP) modules – key components for green hydrogen and e-fuels production – with 500 MW capacity to be operational by 2026 and another 500 MW to be added in 2027.