Oriana Power Vows Rs 10,000cr Investments In Rajasthan’s RE Sector

Oriana Power Vows Rs 10,000cr Investments In Rajasthan's RE Sector

Renewable energy company Oriana Power today announced its plans to invest around Rs 10,000 crore for renewable projects in Rajasthan. The green firm signed a Memorandum of Understanding (MoU) with the state in this regard. The investment has been planned for the development of multiple clean energy projects encompassing solar, floating solar, Green Hydrogen, and Energy Storage Solutions (ESS) in the state.

The MoU was signed in Jaipur during the recently concluded Rising Rajasthan Global Summit 2024. Oriana said it has identified six locations across the state for developing its projects, including one in Bikaner, two in Churu, and three locations in Phalodi districts.

Job Creation 

“Oriana Power is proud to commit this investment of ₹10,000 crores in Rajasthan, one of the most progressive states with a visionary government at the helm that is deeply committed to embracing renewable energy as part of India’s energy transition targets,” said Rupal Gupta, Managing Director, Oriana Power Limited. “Our investment and launch of multiple solar, green hydrogen and ESS projects spread through the state will further strengthen Rajasthan’s green energy credentials and accelerate the state’s journey to complete energy independence.”

The implementation of Oriana’s renewable energy projects under this MoU is expected to create thousands of direct and indirect jobs, directly benefitting the state’s economy and population.

Financial performance 

Oriana Power had recently reported a growth of 461.27% in its revenues for the half-year ended September 30, 2024, as compared to the same period last year. The company’s revenues stood at ₹359.54 crores for the half-year ended September 30, 2024. Oriana also reported that its order book is now standing at 500+ MW.

In the recent few days, a number of renewable energy companies have announced plans to promote several renewable energy in the state. Companies like Avaada, Serentica and others have already committed to boost renewable energy projects in the state.