Oriana Power Limited, a leading player in India’s solar energy sector, has received a major boost after securing a Letter of Award (LoA) worth approximately ₹465.15 crore from NTPC Vidyut Vyapar Nigam Limited (NVVN), a wholly owned subsidiary of NTPC. The project involves setting up a 125 MW/250 MWh standalone Battery Energy Storage System (BESS) at the Giral Sub-Station in Rajasthan.

To be executed under the Build-Own-Operate (BOO) model, the project represents a crucial step toward enhancing grid stability and energy reliability in the region. The BESS initiative will help balance supply and demand, reduce the likelihood of blackouts, and significantly improve overall grid efficiency. The project is also supported by Viability Gap Funding (VGF) of ₹67.50 crore, underscoring the government’s commitment to bolstering advanced energy infrastructure.

As per the terms, Oriana Power is expected to complete the BESS project within 18 months from the effective date of the Battery Energy Storage Purchase Agreement (BESPA). The award reflects growing investor and institutional confidence in Oriana’s technical and operational capabilities in deploying innovative, clean energy technologies at scale.

Founded in 2013, Oriana Power operates across two core business segments—engineering, procurement, and construction (EPC) of solar power projects, and the operation of renewable energy assets under the Build, Own, Operate, Transfer (BOOT) model. The company specialises in delivering comprehensive solar solutions through both on-site installations, such as rooftop and ground-mounted systems, and off-site solar farms via an open-access model. This latest order will further consolidate Oriana’s reputation as a frontrunner in low-carbon energy solutions.

Financial markets responded positively to the announcement, with shares of Oriana Power Limited hitting a 5 per cent upper circuit on Tuesday. The stock closed at ₹2,196.60, up from its previous close of ₹2,092 per share. Currently, the company boasts a market capitalization of over ₹4,400 crore and a robust order book exceeding ₹2,500 crore. With a return on equity (ROE) of 48 per cent and a return on capital employed (ROCE) of 42 per cent, Oriana has delivered strong financial performance. The stock has offered multi-bagger returns of 219.66 per cent from its 52-week low of ₹1,000 per share.

The successful bid for the NVVN project is expected to significantly enhance Oriana’s position in the energy storage segment—an area increasingly vital to India’s clean energy goals. As the country ramps up its renewable energy capacity, efficient storage solutions like BESS will be central to ensuring a resilient and sustainable power grid

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