Oriana Power Limited has won a big contract to build a 234 MW floating solar power project at the Maithon Dam Reservoir. The project, which costs ₹1,180.53 crore (including GST), is a big step forward for the company in India’s renewable energy sector.
The contract has been awarded by Damodar Valley Corporation (DVC), a government-owned power utility. The project will be implemented as a grid-connected Floating Solar Photovoltaic (FSPV) plant and is expected to be completed within 18 months.
Project Scope and EPC Responsibilities
Under the agreement, Oriana Power will undertake the engineering, procurement, and construction (EPC) of the floating solar facility. The company will be responsible for the complete development of the project, from design to commissioning.
The EPC scope includes:
- Design and engineering of the solar plant
- Supply of plant and equipment
- Construction and erection of the floating solar system
- Testing and commissioning of the project
- Long-term operation and maintenance (O&M) services
The total value of the contract is ₹1,180.53 crore, which includes three separate contracts for the supply of equipment, EPC services, and long-term O&M work.
One of India’s Major Floating Solar Projects
The project is one of the biggest floating solar projects in India, which shows how more and more people are using bodies of water like reservoirs to make renewable energy.
Floating solar systems are becoming more popular because they save land, cut down on water evaporation, and make solar panels work better by cooling the water.
Strengthening Oriana Power’s Renewable Portfolio
The project should help Oriana Power become more competitive in the large-scale renewable energy EPC market. The floating solar plant will help India move toward using more sustainable energy sources while also adding to the region’s supply of electricity.
As floating solar technology continues to expand across the country, projects like the Maithon Dam installation demonstrate the growing role of innovative solar solutions in India’s clean energy growth.
Share Market Update
After the announcement, Oriana Power Limited’s shares went up. As of March 9, 2026, at 9:31 AM, the company’s stock price on the National Stock Exchange of India was ₹1,881.10, which is 4.78% higher than the last closing price.
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