Oriana Power: Pioneering Renewable Energy in India
In the vibrant landscape of India’s renewable energy sector, Oriana Power stands out as a beacon of innovation and ambition. Recently, the NSE-listed company announced a monumental investment plan of Rs 10,000 crore aimed at expanding its operations in solar energy, green hydrogen, and battery energy storage systems (BESS) over the next three to four years. This strategic move not only underscores Oriana Power’s commitment to sustainability but also positions it as a key player in the rapidly evolving energy market.
Ambitious Capacity Goals
Oriana Power’s co-founder, Anirudh Saraswat, revealed that the company is targeting an overall 1-GW capacity in Engineering, Procurement, and Construction (EPC) by 2026, alongside a planned 400-MW capacity in Independent Power Producer (IPP) projects. Currently, the company boasts an impressive order book exceeding Rs 2,500 crore, which is set to be executed by November 2025. This robust pipeline reflects the growing demand for renewable energy solutions in India and Oriana Power’s proactive approach to meeting that demand.
Saraswat elaborated on the company’s current pipeline, indicating that they are in discussions to close 900 MW of projects within the next three to four months. This forward momentum is indicative of the company’s strategic planning and its ability to adapt to market needs.
Innovations in Green Hydrogen
One of the most exciting developments from Oriana Power is its plan to establish a gigawatt-scale factory dedicated to producing electrolysers and balance of plant modules for green hydrogen and e-fuels. This initiative aligns with global trends towards hydrogen as a clean energy source and positions Oriana Power at the forefront of this emerging market.
Saraswat noted that the company’s revenue for the previous year was Rs 382 crore, and he expressed confidence that they would continue to grow significantly in the coming years. The focus on green hydrogen not only enhances their portfolio but also contributes to India’s broader goals of reducing carbon emissions and transitioning to sustainable energy sources.
Current Projects and Future Prospects
In the IPP segment, Oriana Power has already operationalized 40 MW of capacity and has successfully delivered 240 MW of EPC projects to date. With over 390 MW of capacity projects currently under construction, the company is well-positioned to expand its footprint in the renewable energy sector.
Oriana Power is also making strides in various sustainable solutions, including solar energy, battery energy storage, compressed biogas, and green hydrogen solutions. The firm has executed over 200 MW of projects across India as of FY24, showcasing its capability and commitment to delivering impactful energy solutions.
Focus on Floating Solar and Compressed Biogas
The company has successfully delivered four floating solar projects and is optimistic about securing more in the future. Floating solar technology is gaining traction as an innovative way to harness solar energy while minimizing land use, making it an attractive option for many regions.
In the realm of compressed biogas (CBG), Oriana Power is currently implementing a 21-tonnes capacity project, with another 30-tonnes project underway. These initiatives not only diversify the company’s energy portfolio but also contribute to the circular economy by utilizing organic waste for energy production.
Strategic Direction and Market Positioning
While Oriana Power has no immediate plans to enter the solar module manufacturing segment, the company is focusing on forward integration rather than backend processes. This strategic choice allows them to concentrate on enhancing their service offerings and project execution capabilities.
As the renewable energy landscape continues to evolve, Oriana Power’s commitment to innovation and sustainability positions it as a leader in the sector. With ambitious plans for growth and a strong focus on green technologies, the company is set to play a pivotal role in India’s energy transition.
Conclusion
Oriana Power’s journey is a testament to the potential of renewable energy in India. With significant investments in solar, green hydrogen, and battery energy storage, the company is not only contributing to the country’s energy needs but also paving the way for a sustainable future. As they continue to expand their operations and innovate within the sector, Oriana Power is poised to make a lasting impact on the renewable energy landscape in India and beyond.