Synopsis:
Oriana Power shares rose 5% after winning a Rs 212 crore order from Karnataka Power Transmission Corp to set up a 50 MW/100 MWh battery storage system.
The shares of a solar and energy solutions company, engaged in EPC and BOOT-based solar power projects, surged up to 5% after bagging a significant government order for a grid-scale battery energy storage project.
With a market capitalization of Rs 4,877 Crores, the share price of Oriana Power Limited was up by 5% up to hit an intraday high of Rs 2,410.05 per share from its previous day closing price of Rs 2,299.90 per share.
What’s the News
Oriana Power Ltd, in an exchange filing, announced that it has received a Letter of Award (LOA) from Karnataka Power Transmission Corporation Ltd (KPTCL) for setting up a 50 MW/100 MWh standalone Battery Energy Storage System (BESS) at the Shahapur Taluk Yadagir Substation in Karnataka.
The project, awarded through tariff-based competitive bidding, will be executed under the Build-Own-Operate (BOO) model and is eligible for a Viability Gap Funding (VGF) of Rs 27 crore. The battery system will support two full charge-discharge cycles daily for ‘on-demand’ usage, aimed at enhancing grid reliability and efficiency.
The total project value, including GST, stands at Rs 212.31 crore, to be recovered over 12 years post-commissioning. As per the agreement, the execution timeline is 15 months from the effective date of the Battery Energy Storage Purchase Agreement (BESPA).
About the Company
Oriana Power Limited is a leading renewable energy company in India, offering solutions across solar, battery storage, green hydrogen, and compressed biogas. The company has delivered over 400 MW of solar capacity (200+ MW in FY25) and is executing another 550+ MW, with a 1 GW solar capacity target by FY26. It also secured long-term C&I contracts and is entering the national utility-scale market via ISTS/CTU connectivity.
In energy storage, Oriana secured 403 MWh of Battery Energy Storage System (BESS) projects in FY25 and is planning its first hybrid solar + BESS project for the C&I segment, targeting 1+ GWh BESS capacity by FY26.
In green hydrogen, it received 10,000 MTPA allocation under the SIGHT Scheme, secured land for a giga-factory, and is working on a 225 TPD e-Methanol project with its first offtake agreement in place.
The company reported a revenue of Rs 987 crore in FY25, up by 157.7 percent from its FY24 revenue of Rs 383 crore. Coming to its profitability, the company reported a net profit rise of 194.4 percent to Rs 159 crore in FY25 from Rs 54 crore in FY24. The stock delivered an ROE and ROCE of 48.3 percent and 42.3 percent, respectively.
Written By Rohan Pandey
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Trade Brains Technologies Private Limited or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
