Daily Newsletter

24 August 2023

Daily Newsletter

24 August 2023

Oriana Power wins contract to build solar facility in Jharkhand

The plant is set to generate clean energy that can power more than 10,000 homes.

August 24 2023

Indian solar energy solution provider Oriana Power has secured a contract to build a 20MW AC ground-mounted solar photovoltaic power facility.

Awarded by Bharat Coking Coal, a subsidiary of Coal India, the contract is worth Rs1.38bn ($16.7m). The award includes goods and services tax components and operation and maintenance charges.

The solar project will be established in the Dugdha washery area within Dhanbad, Jharkhand, India.

This project’s engineering, procurement, and construction (EPC) phase is expected to be completed within a year.

The scope of the contract covers a wide range of activities, including the design and procurement of solar equipment, followed by testing, commissioning, and integration of this equipment with the transmission network, as well as a five-year operation and maintenance commitment.

Oriana Power said: “This venture not only showcases our expertise in renewable energy but also aligns seamlessly with our strong commitment to sustainability.

“The project’s comprehensive scope, which spans from the initial design stages to the ongoing operational phase, underscores our holistic approach in providing innovative and impactful solutions within this dynamic domain.”

The plant is expected to generate sustainable energy to power more than 10,000 households in the region.

It is also anticipated to reduce CO₂ emissions by 26,000tpa, making a significant contribution to the global effort to combat climate change.

ESG 2.0 will be less forgiving of poor ESG performers, especially on environmental issues

While ESG 1.0 was driven by voluntary corporate action, ESG 2.0 is being driven by a new wave of government policies. A host of new environmental laws are in the pipeline, relating to mandatory reporting, carbon pricing, and carbon import tariffs, as well as more state support and investment in clean energy technologies. Companies unprepared for ESG 2.0 face higher costs and lost sales.

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