Oriana Power has entered into a Memorandum of Understanding (MoU) with the Government of Rajasthan under the "Rising Rajasthan 2024" initiative. This strategic partnership aims to explore and invest in various renewable energy projects, including solar power, floating solar, green hydrogen, and energy storage solutions, with a potential investment of Rs 10,000 crore.
The MoU, signed on 4 December 2024, aligns with Oriana Power's vision to establish itself as a leading player in the clean energy infrastructure sector.
The company initiated discussions with the Government of Rajasthan in November 2024 to identify potential investment opportunities in the state's renewable energy landscape. The subsequent agreement on the scope of collaboration led to the formalization of the MoU.
While the MoU represents a significant step forward for Oriana Power's renewable energy initiatives, it is important to note that it is a preliminary framework for collaboration. Definitive financial commitments and project execution will follow subsequent agreements and detailed project planning.
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 company's consolidated net profit was at Rs 48.60 crore in H1 FY25, steeply higher than Rs 5.73 crore posted in H1 FY24. Net sales stood at Rs 359.54 crore in H1 FY25, zooming 461.26% year on year.