Oriana Power Raises Corporate Guarantee to 100% for INR 460 Crore Floating Solar Project Facility

Oriana Power Limited has revised its corporate guarantee commitment for its subsidiary, Oriana Usolar Joint Venture Private Limited, in connection with a major floating solar power project in Jharkhand. The company disclosed the development under Regulation 30 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

The latest decision follows an earlier disclosure dated September 14, 2026, under which Oriana Power had agreed to provide a corporate guarantee capped at 74% of a ₹460 crore working capital facility extended by State Bank of India. The facility is intended to support the development and execution of a renewable energy project being undertaken by the subsidiary.

At its board meeting held on October 6, 2026, in Noida, the company approved increasing the corporate guarantee from 74% to 100% of the entire ₹460 crore working capital facility. The revised guarantee is subject to approval from the company’s shareholders.

The working capital facility will support the development of a 234 MW grid-tied floating solar photovoltaic project at the DVC Maithon Dam Reservoir in Jharkhand. The project is being developed under an engineering, procurement and construction contract awarded by Damodar Valley Corporation.

The corporate guarantee will remain valid for the full tenure of the working capital facility. The facility has an initial validity of 12 months and may be renewed annually, while the amount remains repayable on demand. The revised guarantee arrangement will become effective after receiving the required shareholder approval.

Oriana Power stated that the transaction does not have any immediate operational impact on the company. However, the increased guarantee represents a contingent liability and could have financial implications if the subsidiary fails to meet its obligations under the working capital facility.

The company also disclosed that there is no personal interest of the promoters or promoter group entities in the transaction. The arrangement has been undertaken on an arm’s-length basis.

The revised guarantee highlights the company’s increased financial commitment toward supporting the floating solar project. With a capacity of 234 MW, the project is expected to contribute to the expansion of large-scale renewable energy infrastructure and floating solar deployment in the region.