Oriana Power Limited has invested Rs 120 million in its subsidiary, Truere Guj SPV Private Limited, to support the development of a battery energy storage system (BESS) linked to a solar power project.
The investment has been made through the acquisition of 9.32 million equity shares with a face value of Rs 10 each, under an arm’s length agreement. The BESS is proposed to enable efficient energy management by storing surplus power from the solar plant.