FCC

Oriana Power Signs MoU with Rajasthan in Clean Energy

2024-12-23

Oriana Power, a publicly-listed company on the NSE, announced on Monday that it has entered into a Memorandum of Understanding (MoU) with the Rajasthan government to invest Rs 10,000 crore in a series of clean energy projects. The projects will focus on solar energy, floating solar, green hydrogen, and energy storage solutions.

The agreement was finalized in Jaipur during the recently concluded Rising Rajasthan Global Summit 2024. Oriana Power has identified six key locations in the state for these projects, including one in Bikaner, two in Churu, and three in Phalodi districts.

Rupal Gupta, Managing Director of Oriana Power, stated, "Our investments in solar, green hydrogen, and energy storage projects across Rajasthan will help boost the state’s green energy profile and expedite its journey toward energy independence."

The renewable energy firm has reported impressive financial growth, with a 461.27 percent increase in revenues for the half-year period ending September 30, 2024, compared to the previous year. The company’s revenue stood at Rs 359.54 crore, and its order book has expanded to over 500 MW of capacity.