Synopsys:
Oriana Power Ltd has signed a MoU with Invest Alberta Corporation, Canada to explore and develop renewable energy projects in Canada.
A green energy stock, engaged in providing EPC services across renewable sources, is in focus after signing an MoU with a Canadian company to develop green energy projects and more.
With a market capitalization of Rs. 4,917 Cr, shares of Oriana Power Ltd opened at Rs. 2492.00 per equity share, from its previous day’s closing price of 2,405.15, and made an intra-day high of Rs. 2,492 (3.54 percent,) which is the same as the open price.
Why Is It In the News
Oriana Power Limited, a leading renewable energy company based in India, has signed a Memorandum of Understanding (MoU) with Invest Alberta Corporation (IAC), Canada. This partnership aims to explore and develop clean energy projects in Alberta, Canada, including renewable energy, green hydrogen, and E-methanol.
As part of this agreement, Oriana plans an initial investment of USD 300 million to USD 500 million, which may grow to USD 1 billion over the next five years, depending on project feasibility.
Under this MoU, Oriana power and IAC will work together to build a vertically integrated renewable energy complex. IAC will help Oriana connect with key stakeholders, navigate local government policies, and work with Invest Alberta Corporation’s educational institutions to create a skilled talent pipeline.
Oriana Power Limited’s global expansion plan gets a boost with this move. The company now operates 500 MW of solar assets and plans to expand to 2 GW by next year. It is also working on battery storage, green hydrogen, and biogas projects to grow in the clean energy sector.
About The Company
Oriana Power Limited is a clean energy company focused on solar power solutions. It operates through two main models: EPC services for setting up solar projects and BOOT (Build, Own, Operate, Transfer) for long-term energy supply. The company develops, operates, and maintains solar systems to support sustainable energy needs.
The company’s revenue from operations surged from Rs. 383 crores in FY24 reaching Rs. 987 crores in FY25, reflecting strong business growth. Net profit also rose from Rs. 54 crores to Rs. 159 crores, indicating better cost management and profitability. These figures highlight a solid improvement in both revenue and overall financial performance.
Written by Sudeep Kumbar
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