Oriana Power's arm TrueRE Surya has been awarded a 128 MW solar project by Dalmia Cement (Bharat), a wholly-owned subsidiary of Dalmia Bharat. The company will build and operate a 128 MW ground-mounted solar power plant in Tamil Nadu for captive consumption.

The plant’s cost of construction is estimated at Rs 520 crore, and it is expected to be commissioned within 12 months. Once completed, it will generate 1,920 lakh units of electricity per annum and will support the Group’s commitment towards RE100 by 2030.

As part of the contract, Dalmia Cement has also entered into an agreement to acquire 26 percent of TrueRE Surya’s equity share capital, in one or more tranches. The transaction is expected to be completed within four to six months.

Last week, Oriana Power had announced a 52 MW solar project order from Bharat Petroleum Corporation under EPC segment. The project is estimated worth Rs 247.88 crore. With these project wins, Oriana Power now has more than 570 MW of cumulative capacity under execution. The company has delivered more than 240 MW of cumulative projects so far.