Oriana Power shares: Oriana Power shares hit an upper circuit of 5 percent on Monday and the company’s shares reached an intraday high of Rs 2,193.15. There is a big order behind this rise in the shares. Actually, the company said that it has received an order of Rs 247.88 crore for a 52 MW solar energy plant. This order was given by Bharat Petroleum Corporation Limited. Let us tell you that in July last year, the company’s IPO came at a price of Rs 118. That is, since then till now this share has climbed 1758 percent.
what is detail
The new project will be developed in Prayagraj, Uttar Pradesh. It falls under the engineering, procurement and construction (EPC) segment of the company. Under the order, Oriana Power will ensure the development of the solar energy plant, including obtaining approvals from the central transmission utility (CTU), installing the necessary transmission lines, and managing operations and maintenance for five years. The order is expected to be executed by Oriana Power within six months.
company business
Incorporated in 2013, Oriana Power operates in two main business sectors – providing EPC and operation for solar energy projects and providing solar energy solutions on a BOOT (build, own, operate, transfer) basis. In August, the company announced plans to set up a gigawatt-scale facility dedicated to the production of alkaline electrolysers and balance of plant (BOP) modules. The plant is set to be commissioned in two phases, with the first phase having 500 megawatt (MW) annual capacity for electrolyser production, scheduled to be commissioned by 2026.
