Oriana Power Shares Surge 10% Today, Reaching ₹2545 After Announcing ₹10,000 Crore Green Energy Investment
In a major step towards boosting renewable energy, Oriana Power revealed its plan to invest ₹10,000 crore in Rajasthan. The announcement was made during the recently concluded Rising Rajasthan Global Summit held in Jaipur.
Oriana Power shares skyrocketed by 10% today, reaching an intraday high of ₹2,545 on Monday. This surge comes in the wake of a significant announcement by the company about a major investment in green energy projects in Rajasthan.
Oriana Power Commits ₹10,000 Crore for Rajasthan’s Green Energy Development
In a major step towards boosting renewable energy, Oriana Power revealed its plan to invest ₹10,000 crore in Rajasthan. The announcement was made during the recently concluded Rising Rajasthan Global Summit held in Jaipur. During this event, the company signed a Memorandum of Understanding (MoU) with the Rajasthan government.
The investment will focus on developing solar energy projects, green hydrogen production, and Energy Storage Solutions (ESS) within the state. This aligns with the government’s mission to position Rajasthan as a renewable energy hub in India.
IPO at ₹118, Now Up by Over 2100%
Oriana Power’s Initial Public Offering (IPO) was launched in August 2023 at a price band of ₹115-₹118 per share. The IPO was well-received, with the shares listing at ₹302—a whopping 155% premium over the issue price.
Since then, Oriana Power’s shares have delivered outstanding returns, growing by nearly 2100% from its IPO price. The stock’s 52-week high stands at ₹2,984, while its 52-week low is ₹450. The company’s current market capitalization is ₹5,057.44 crore, making it one of the rapidly growing players in the renewable energy sector.
Focus on Solar Energy and Sustainability
Established in 2013, Oriana Power specializes in two key business verticals:
- EPC (Engineering, Procurement, and Construction) Services: Providing infrastructure and solutions for solar energy projects.
- BOOT Model (Build, Own, Operate, Transfer): Delivering solar energy solutions through a sustainable operational approach.
The company’s latest commitment to Rajasthan is expected to create a significant impact in renewable energy adoption and storage.
Green Energy Push in Rajasthan
Rajasthan, known for its abundant solar energy potential, is emerging as a preferred destination for renewable energy investments. With Oriana Power’s ₹10,000 crore commitment, the state is likely to witness a boom in solar projects, along with advancements in green hydrogen technology and ESS.
This partnership underscores the state’s efforts to attract global and domestic investments for sustainable development.
Oriana Power’s Market Journey
The remarkable growth trajectory of Oriana Power highlights the increasing investor interest in companies focusing on clean energy. With India setting ambitious renewable energy targets, companies like Oriana Power are poised to play a crucial role.
The company’s decision to invest heavily in Rajasthan not only enhances its portfolio but also strengthens its position in the rapidly evolving renewable energy market.
