Oriana Power wins EPC contract for 234 MW floating solar project

Oriana Power Limited has received a letter of award for the development of a 234 MW grid-tied floating solar photovoltaic (FSPV) plant at the Maithon Dam Reservoir operated by Damodar Valley Corporation (DVC) in Jharkhand. The contract is valued at Rs 1,180.53 crore, including GST.

The company stated that it received purchase orders from a renewable energy developer for the project under its Engineering, Procurement, and Construction (EPC) segment. The scope of work includes design, engineering, supply, construction, erection, testing and commissioning of the floating solar PV plant, along with comprehensive operation and maintenance (O&M) services.

The contract consists of three components covering the supply of plant and equipment, EPC services and long-term O&M. The project is scheduled to be completed within 18 months.

The floating solar project will be developed at the Maithon Dam Reservoir for DVC, a domestic entity. The company stated that none of its promoters, promoter group entities or group companies have any interest in the entity awarding the contract, and the transaction does not qualify as a related party transaction.

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