Oriana Power Secures ₹3,870 Crore BESS Projects; Shares Rise 5.16%

Mumbai, September 22: Oriana Power Limited has secured two Letters of Award from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for setting up battery energy storage systems with a combined capacity of 900 MW/1,800 MWh in Maharashtra.

The two awards, dated September 18, 2026, were issued under MSEDCL’s tariff-based global competitive bidding process, with Viability Gap Funding support under the Power System Development Fund scheme.

Oriana Power Gets Two Battery Storage Awards From MSEDCL

As per the regulatory filing, the first LOA covers a 500 MW/1,000 MWh battery energy storage project, while the second is for a 400 MW/800 MWh project.

The 500 MW/1,000 MWh project carries a tariff of ₹2,38,000 per MW per month, excluding GST. The 400 MW/800 MWh project has a tariff of ₹2,40,000 per MW per month, also excluding GST.

Both projects will operate under Battery Energy Storage Purchase Agreements for 15 years from their respective Commercial Operation Dates.

Together, the two awards are estimated to generate consideration of about ₹3,870 crore over the 15-year period, excluding GST. Oriana Power expects Viability Gap Funding support of around ₹324 crore.

Stock Market Snapshot

The Oriana Power share price stood at ₹285.30, up ₹14 or 5.16%, as of 9:42:51 AM IST on September 22, 2026, according to the market data shown.

The stock opened at around ₹281 and moved higher during the morning session. It touched nearly ₹289 before giving up some of the gains. At the latest available timestamp, the shares were still trading firmly above the ₹280 mark.

The rise in the stock came as the company disclosed the two MSEDCL awards covering a sizeable battery storage capacity.

Projects Cover 900 MW Of Storage Capacity

Oriana Power has been declared the successful bidder for an aggregate 900 MW/1,800 MWh capacity out of the 2,000 MW/4,000 MWh tender floated by MSEDCL.

The larger 500 MW/1,000 MWh project carries an estimated value of about ₹2,142 crore over its 15-year BESS agreement. The 400 MW/800 MWh project has an estimated value of around ₹1,728 crore.

The respective projects will be developed at MSEDCL and MSETCL substations in Maharashtra, with commissioning timelines to be governed by the terms of the individual BESPAs.

BESS Projects Add To Oriana Power’s Energy Business

Battery energy storage is becoming an important part of the power system as renewable generation expands. Storage systems can hold electricity and supply it when required, helping manage fluctuations in power availability and supporting grid operations.

For Oriana Power, the latest awards add another large-scale energy storage project to its portfolio, with the contracts providing a long-term framework for project operations.

The company has confirmed that the awards are from a domestic entity. There is no promoter or promoter group interest in MSEDCL, and the transactions do not fall under related-party arrangements.

Conclusion

Oriana Power’s latest MSEDCL awards give the company a combined 900 MW/1,800 MWh battery energy storage opportunity, with an estimated consideration of ₹3,870 crore over 15 years, excluding GST.

The projects also come with expected VGF support of ₹324 crore and will be developed under long-term BESS agreements. The disclosure adds to Oriana Power’s presence in the growing battery storage segment.

Meanwhile, the Oriana Power share price was at ₹285.30, up 5.16%, as of 9:42:51 AM IST on September 22, 2026.

Source:

• https://www.nseindia.com/get-quote/equity/ORIANA/Oriana-Power-Limited
• https://nsearchives.nseindia.com/corporate/ORIANA_21092026083747_ORIANA_BESS_MSEDCL_210926.pdf