Oriana Power Limited has achieved a major milestone by securing a significant contract through its subsidiary Truere Surya Private Limited. The company has been awarded a ₹520 crore contract to develop a 128 MW solar power plant for Dalmia Cement (Bharat) Limited, located in Tamil Nadu. This project represents a crucial step in supporting Dalmia Cement's ambitious renewable energy targets, aiming to enhance their sustainability initiatives by 2030.

Project Details and Impact:

The 128 MW solar power plant is a part of the Open Access Captive Power Plant segment and is expected to be completed within 12 months. This development is not only a substantial addition to Oriana Power's project portfolio but also a significant contribution to the renewable energy landscape in Tamil Nadu. The project will provide Dalmia Cement with a reliable source of clean energy, aligning with their commitment to sustainability and reducing carbon emissions.

Investment and Stake Acquisition:

In addition to the contract, Dalmia Cement will invest ₹44.8 crore for a 26% stake in Truere Surya Private Limited. This strategic investment underscores Dalmia Cement’s dedication to supporting renewable energy projects and solidifies their partnership with Oriana Power. The stake acquisition will further enhance the collaborative efforts between the two entities, driving the success of the solar power project.

Financial Projections and Growth:

The new contract significantly boosts Oriana Power’s order book, which now totals around ₹2,500 crore. This expansion is expected to drive substantial revenue growth for the company, with projections indicating revenues of ₹1,200-1,500 crore for FY25. Additionally, Oriana Power anticipates further growth, with a target of reaching ₹2,500 crore in revenue by FY26. This substantial increase in order book and revenue projections highlights the company’s strong position in the renewable energy sector and its potential for future success.

Renewable Energy Commitment:

The successful execution of this project aligns with the broader goals of increasing renewable energy capacity in India. By securing such significant contracts and fostering strategic partnerships, Oriana Power is playing a vital role in advancing the country's renewable energy infrastructure and supporting its transition to cleaner energy sources.

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