Oriana arm invests Rs 12 crore in BESS-linked solar project

Truere Guj SPV Private Limited, a subsidiary of Oriana Power Limited, has received an investment of Rs 12,01,68,600 from its parent to support the development of a battery energy storage system (BESS). The funding is tied to a solar project being developed by the subsidiary, according to a regulatory filing.

Oriana Power Limited said the transaction was conducted on an arm’s length basis and involved the acquisition of 93,24,000 equity shares of face value Rs 10 each in Truere Guj SPV Private Limited. The proposed BESS is intended to improve energy management by storing surplus electricity generated by the solar plant.

Earlier in March, Oriana Power secured three engineering, procurement and construction (EPC) contracts for ground-mounted solar projects in Jodhpur, Rajasthan, with a total capacity of 32 MW, coupled with 20 MWh of battery energy storage.

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