Oriana Power Ltd Receives Order for Solar Project & Expands into Green Hydrogen
Key Ideas
- Oriana Power Ltd shares surged 2% following a Rs. 37.18 crore solar power project order in Tamil Nadu, boosting YTD returns by over 300%.
- Financially, the company saw remarkable growth with revenue up 398% and net profit up 750% in the recent period.
- The company's strategic partnership with Splitwaters for green hydrogen projects in India and abroad indicates a move towards sustainable energy solutions.
- With a strong order book exceeding 600 MWp solar projects and plans to achieve 1 GW capacity by 2026, Oriana Power is poised for significant growth in the renewable energy sector.
Oriana Power Ltd, a leading solar energy solution provider headquartered in New Delhi, witnessed a 2% surge in shares after securing a Rs. 37.18 crore order for a solar power project in Tamil Nadu, contributing to a remarkable YTD return of over 300%. The company's financial performance showed impressive growth, with revenue soaring by 398% and net profits by 750%. Oriana Power also ventured into green hydrogen projects through a strategic partnership with Splitwaters, aiming to develop green hydrogen and E-fuel facilities in India and beyond. With a robust order book exceeding 600 MWp solar projects and plans to achieve 1 GW capacity by 2026, the company foresees substantial growth in the renewable energy sector. Additionally, Oriana Power is on track to enhance customer conversion rates by collaborating with a major financial institution in India for financing residential and SME rooftop solar projects. The company's integration of agricultural practices with photovoltaic systems reflects its commitment to exploring new revenue streams and advancing sustainable energy solutions.
Topics
Electrolyzer
Renewable Energy
Market Expansion
Financial Performance
Company Profile
Solar Energy
Strategic Partnership
Order Book
Management Guidance
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