Rs 2,500+ crore order book: Solar power company Bags Rs 188.61 Crore BESPA Win for Battery Storage Project in Rajasthan

DSIJ Intelligence-2 / 09 Jul 2025/ Categories: Mindshare, Trending

Rs 2,500+ crore order book: Solar power company Bags Rs 188.61 Crore BESPA Win for Battery Storage Project in Rajasthan

Despite a minor year-to-date return of 0.26 per cent, the stock has seen a significant rally of 74.04 per cent in the last three months.

Oriana Power Limited witnessed a sharp rise in its stock price on Wednesday, July 9, 2025, following the announcement of a new project win. The company’s shares surged by 4.64 per cent to Rs 2,276 apiece as of 11:30 a.m. IST, driven by news that its wholly-owned subsidiary, Truere Knight Private Limited, signed a Battery Energy Storage Purchase Agreement (BESPA) worth Rs 188.61 crore with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL).

Under this agreement, Oriana Power will set up a standalone Battery Energy Storage System (BESS) of 50 MW/100 MWH capacity at the Heerapura, Jaipur Sub-Station. The project will be executed under the Build-Own-Operate (BOO) model and is expected to be completed within 18 months from the signing date. The agreement includes a Viability Gap Funding (VGF) component of Rs 27 crore based on current estimates.

This project aims to enhance grid stability in Rajasthan by managing peak load requirements and reducing blackout risks. The total value will be realised over 12 years starting from the project’s commissioning date, contributing to the company's recurring revenue.

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In terms of financial performance, Oriana Power reported a consolidated total revenue of Rs 987.16 crore for FY25. The Profit After Tax (PAT) stood at Rs 158.55 crore, with a PAT margin of 16.06 per cent. EBITDA reached Rs 245.38 crore and the basic Earnings Per Share (EPS) was Rs 79.52. These results reflect a strong financial position and operational efficiency for the Small-Cap company.

Despite a minor year-to-date return of 0.26 per cent, the stock has seen a significant rally of 74.04 per cent in the last three months. However, on a 12-month basis, the share price is down by 6.13 per cent.

Founded in 2013, Oriana Power operates in two verticals—solar EPC and solar energy solutions on a BOOT basis. The company focuses on both on-site solar installations such as rooftop and ground-mounted systems, and off-site solar farms under open access models.

Disclaimer: The article is for informational purposes only and not investment advice.