TrueRE Oriana Power has secured the Damodar Valley Corporation’s (DVC) engineering, procurement, and construction contract to set up a 234 MW grid-connected floating solar project on the reservoir of DVC Maithon Dam in Jharkhand.

The project is valued at approximately ₹11.81 billion (~$128.590 million).

It must be completed within 18 months.

The tender was floated in May 2025.

Once operational, the project will generate approximately 500 million kWh of electricity annually.

The scope of work involves the design, engineering, procurement, erection, testing, and commissioning of the project. It also includes overseeing the supply of equipment and materials, testing at manufacturers’ works, inspections, installation, and related civil works.

It also involves conducting bathymetric, geotechnical, and hydrographic surveys.

TrueRE Oriana Power must obtain the permits and licenses for the project. It must also provide comprehensive operation and maintenance services for 10 years.

The project must be designed for 25 years and to ensure a minimum annual capacity utilization factor of 24.42%.

Power must be evacuated through a 33 kV cross-linked polyethylene AC power cable of suitable size, ending at the H-pole of the 33 kV switchyard.

The project must use monocrystalline, Mono PERC, or TOPCon modules with at least 550 Wp. They must be sourced from suppliers authorized by the Approved List of Models and Manufacturers.

TrueRE Oriana must maintain a performance ratio of 83.79% at the 33 kV termination point of the DVC switchyard.

Modules must be covered by insurance for at least 6% of the total order value for 25 years.

TrueRE Oriana has around 1 GW of solar projects commissioned and under construction.  It has also secured orders for 800 MWh of battery energy storage projects and a pipeline of 1 GWh.

Last year, DVC invited bids to set up a 228 MW grid-connected floating solar project on the DVC Konar Dam reservoir in Hazaribagh, Jharkhand.

It also invited bids to set up a 14 MW floating solar project at the raw water reservoir of the DVC Mejia Thermal Power Station in the Bankura district of West Bengal.

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