Oriana Power to Invest INR 10,000 Crore in Rajasthan for RE Projects

Oriana Power Ltd. has signed a Memorandum of Understanding (MoU) with the Rajasthan government to invest INR 10,000 crore in renewable energy projects.

The announcement took place during the Rising Rajasthan Global Summit 2024 in Jaipur. The investment will focus on solar power, floating solar projects, green hydrogen production, and energy storage solutions (ESS).

As part of this plan, Oriana Power has identified six project locations across Rajasthan. These include one site in Bikaner, two in Churu, and three in Phalodi districts.

Commenting on this, Rupal Gupta, Managing Director of Oriana Power Ltd., said, “Rajasthan’s supportive policies and strong focus on renewable energy make it the ideal place for our investment. Through solar, green hydrogen, and energy storage solutions, we aim to strengthen Rajasthan’s leadership in clean energy and support India’s transition towards energy independence.”

The projects under this agreement are expected to create thousands of jobs, both directly and indirectly, boosting the State’s economy. Oriana Power’s recent performance highlights its growth and commitment to clean energy.

The company reported a 461.27 percent rise in revenue for the half-year ending September 30, 2024, reaching INR 359.54 crore. Besides, Oriana’s order book has now crossed 500 MW, solidifying its role in driving India’s renewable energy goals.