Oriana Power’s Subsidiary to Develop Rs. 520 Cr. Solar Project for Dalmia Cement

TrueRe Surya Private Limited, a subsidiary of Oriana Power Limited, has secured a contract from Dalmia Cement (Bharat) Ltd. to develop a 128 MW solar power project in Tamil Nadu. This project will be developed at an estimated cost of Rs. 520 crore.

TrueRe Surya will handle the construction and operation of the 128 MW ground-mounted solar power project. This project is expected to be commissioned within next 12 months. Dalmia Cement (Bharat) will utilise solar power from this project for its captive use.

Commenting on this order win, Mr. Anirudh Saraswat, Chief Business Officer of Oriana Power Limited, said “This prestigious order from Dalmia Cement underlines our growing recognition as the renewable energy partner of choice for major enterprises in the country”.

Interestingly, Dalmia Cement (Bharat) has entered into a Share Subscription and Shareholders Agreement to acquire a 26% stake in TrueRe Surya Private Limited for Rs. 44.8 crore. This agreement was signed on 3rd September 2024. This acquisition is anticipated to be completed within 4 to 6 months.