Oriana Power's Shares Surge on ACTIS Partnership for 1 GWp Indian Solar Projects
Oriana Power Limited's shares surged 5% today, hitting the upper circuit, following an announcement of a strategic partnership with ACTIS GP LLP. The company, involved in various aspects of the renewable energy value chain, aims to develop 1 GWp of solar and renewable energy projects in India over the next two years with this collaboration.
ACTIS will invest up to USD 100 million in equity over two years, supporting project implementation and stake acquisition. This significant financial backing is set to accelerate project execution and strengthen Oriana Power's position in the renewable energy sector. The partnership, a strategic milestone for Oriana Power, is expected to boost its capabilities and growth prospects. Ernst & Young LLP is serving as the sell-side M&A investment banker for this alliance, with no information available regarding the sole sales advisor.
Oriana Power's shares closed at Rs 2,776.80 on NSE, reflecting investor confidence in the partnership with ACTIS. The collaboration is poised to drive Oriana Power's renewable energy projects and solidify its standing in the industry.
