Solar Power Project Company Signs Rs 27 Crore BESPA for 100 MWh Battery Storage Project in Tamil Nadu
Despite a year-to-date decline of 5.58 per cent, the stock has gained 46.05 per cent in the last three months.
Oriana Power Limited has signed a Battery Energy Storage Purchase Agreement (BESPA) with the Tamil Nadu Power Distribution Corporation Limited (TNPDCL) for the development of a 50 MW/100 MWh Battery Energy Storage System (BESS) project. This project will be established at the Karaikudi 230/110 kV substation in Tamil Nadu and is backed by a Viability Gap Funding (VGF) support of Rs 27 crore.
The battery storage system aims to enhance grid stability in Tamil Nadu by balancing supply and demand, reducing blackout risks, and improving overall power efficiency. The project is part of a broader initiative to deploy standalone grid-scale battery storage systems at key locations in the state.
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This development comes amid broader positive sentiment in the Indian stock market, driven by optimism around trade talks between the U.S. and India. On July 3, 2025, by 10:30 a.m. IST, the Nifty 50 rose by 0.4 per cent to 25,555.20, while the BSE Sensex advanced 0.41 per cent to 83,752.36.
Financially, Oriana Power reported strong performance in FY25. The company posted a consolidated Profit After Tax (PAT) of Rs 1,585.54 crore with a PAT margin of 16.06 per cent. EBITDA stood at Rs 2,453.79 crore, and Basic Earnings Per Share (EPS) was Rs 79.52. The company’s total revenue for the fiscal year was Rs 9,871.66 crore.
As of 10:45 a.m. IST on July 3, Oriana Power’s share price was trading at Rs 2,147, up by 0.62 per cent. Despite a year-to-date decline of 5.58 per cent, the stock has gained 46.05 per cent in the last three months. Over the past 12 months, it has declined by 17.23 per cent.
Founded in 2013, Oriana Power operates in two primary verticals—executing EPC and O&M contracts for solar projects and offering solar energy solutions on a BOOT (Build, Own, Operate, Transfer) basis. The company provides low-carbon energy through on-site installations (rooftop and ground-mounted) and off-site solar farms under open access.
Disclaimer: The article is for informational purposes only and not investment advice.