Oriana Power Limited has announced that its subsidiary, TrueRE Surya Private Limited, has been awarded a significant contract by Dalmia Cement (Bharat) Limited (DCBL), a wholly owned subsidiary of Dalmia Bharat Limited.
Under the terms of the contract, Oriana Power will construct and operate a ground-mounted solar power plant in Tamil Nadu, with a capacity of up to 128 MW. The project, estimated to cost ₹520 Crore, is slated for commissioning within 12 months. Once operational, the plant is expected to generate 1,920 lakh units of electricity annually, furthering Dalmia Bharat’s RE100 commitment by 2030 and its goal to become carbon negative by 2040.
In addition, DCBL has entered into a Share Subscription and Shareholders Agreement (SSSHA) to acquire a 26% equity stake in TrueRE Surya Private Limited for ₹44.8 Crore. This agreement will facilitate the sourcing of solar power for DCBL’s captive use, with the transaction expected to be completed within four to six months.
Anirudh Saraswat, Chief Business Officer of Oriana Power Limited, commented on the contract, “This prestigious order win from a major cement company highlights our growing recognition as a leading renewable energy partner for large enterprises. We are honored by the trust placed in Oriana Power’s capabilities and look forward to advancing India’s renewable energy goals through this collaboration.”
Last week, Oriana Power also announced a new solar project order from Bharat Petroleum Corporation Limited worth ₹247.88 Crores. This project, with a total capacity of 52 MW, falls under the EPC segment. Following these new contracts, Oriana Power’s cumulative capacity under execution exceeds 570 MW, with over 240 MW of projects already delivered.
The company boasts a diverse portfolio of projects across 22 Indian states and has secured approximately 920 acres of land for renewable energy ventures. Looking ahead, Oriana Power plans to expand its operations into the Middle East, Africa, and Europe.
Additionally, Oriana Power recently formed a strategic partnership with US-based Green Hydrogen electrolyser manufacturer, Splitwaters. The company will establish a Giga-factory for the production of electrolysers and Balance of Plant (BOP) modules, crucial for green hydrogen and e-fuels production, with an initial 500 MW capacity set to become operational by 2026, and a further 500 MW to be added by 2027.
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