Oriana Power Signs MoU with Rajasthan Government for Renewable Energy Projects
Key Ideas
- Oriana Power's shares surged after signing an MoU with the Government of Rajasthan to explore renewable energy projects, including green hydrogen, with a total investment of Rs 10,000 crore.
- The company reported strong financial performance in H1 FY25, with significant revenue growth, profitability, and improved operational efficiency.
- Oriana Power has over 518 MW of projects under execution, a pipeline of 1,500+ MW, and aims to be a leader in clean energy infrastructure in India.
- The company's market capitalization stands at Rs 5,324.63 crore, with shares trading at a price to earnings multiple of 91.52 times on the NSE SME platform.
Shares of Oriana Power surged up to 8.79 percent on the NSE following the signing of a memorandum of understanding (MoU) with the Government of Rajasthan. The MoU, part of the 'Rising Rajasthan 2024' initiative, aims to explore investment opportunities in renewable energy projects amounting to Rs 10,000 crore. These projects include solar power, floating solar, green hydrogen, and energy storage solutions. Oriana Power expressed its commitment to contribute to India's renewable energy goals and establish itself as a leader in clean energy infrastructure. The company's financial performance in H1 FY25 showed significant growth, with revenue from operations reaching Rs 359.54 crore and Profit After Tax surging to Rs 48.57 crore. Operational efficiency was evident in Ebitda growth and improved Debt-to-Equity Ratio. With projects under execution and a pipeline of over 1,500 MW, Oriana Power aims for sustainable growth and profitability in the renewable energy sector.