Oriana Power spurts on bagging 40-MWp solar project

Oriana Power rallied 4.95% to Rs 2,407.40 after the construction engineering firm received a new order for a 40 MWp solar power plant under the captive segment.

The project will be implemented by a separate entity incorporated or to be incorporated by Oriana Power directly or through its subsidiaries.

The scope of this project includes engineering, procurement and construction (EPC), commissioning, operation and maintenance of solar power plant.

The contract is to be executed within 9 months and the operation and maintenance period is 25 years from COD. The order size is 40 MWp, tentative estimated construction and development cost is 155 crore.

Oriana Power specializes in solar energy solutions for industrial and commercial customers. The firm offers on-site solar projects like rooftop and ground-mounted systems, as well as off-site solar farms.

The companys consolidated net profit was at Rs 54.35 crore in FY24, steeply higher than Rs 10.56 crore posted in FY23. Net sales stood at Rs 382.87 crore in FY24, zoomed 184.2% year on year.

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