### **Overview** Oriana Power Ltd. (OPL), incorporated in 2013, has evolved from a solar EPC-focused company into a full-stack, diversified clean energy platform serving the entire renewable energy value chain. The company has transformed into a gigawatt-scale Independent Power Producer (IPP) and engineering, procurement, and construction (EPC) leader, integrating **solar power, battery energy storage systems (BESS), compressed biogas (CBG), and green hydrogen and its derivatives (e-fuels, green ammonia, e-methanol)** under a single operational and strategic framework. Headquartered in New Delhi, India, Oriana Power operates across India, Africa (Kenya), and is expanding internationally into Canada, the UK, and Europe. The company transitioned to a public limited structure in 2023 to strengthen corporate governance and support scalable growth. --- ### **Core Business Verticals** Oriana operates across four strategic business pillars: 1. **Solar Power** - Serves **commercial & industrial (C&I), utility, and institutional clients**. - Offers **floating, rooftop, ground-mounted, solar parks, and agro-photovoltaic** installations. - Key innovation: **India’s largest Agro-Photovoltaic project (25 MWp, Delhi)** under Group Net Metering (GNM). - Early mover in **floating solar and virtual net metering**. 2. **Battery Energy Storage Systems (BESS)** - Strategic entry in 2024, ahead of market expansion. - Executing **grid-scale standalone BESS projects** in Karnataka (50 MW/100 MWh) and Rajasthan (50 MW/100 MWh) under BOO model. - Secured **403 MWh in BESS orders (FY25)** from utilities (RVUNL, TGGENCO, KPTCL, TNGC). - Target: **1 GWh by FY26**, leveraging modular engineering and digital control systems. 3. **Green Hydrogen & E-Fuels** - Allocated **10,000 MTPA green hydrogen capacity** under SECI’s SIGHT scheme. - Developing a **225 TPD e-methanol pilot plant** in Madhya Pradesh with offtake secured. - Strategic partner: **Splitwaters (USA)** for high-efficiency alkaline electrolyzers. - Land secured in MP at ₹1/sq. meter for **giga-factory development**. - Targeting **carbon-intensive sectors** (steel, aviation, shipping, fertilizers) for decarbonization. 4. **Compressed Biogas (CBG)** - Operational capacity: **21 TPD** (FY25), pipeline of **100 TPD**. - Expanding under the **PM-KUSUM and SATAT initiatives**. - Integrated into the clean fuel ecosystem with potential for CCUS (carbon capture) linkages. --- ### **Business Models & Revenue Streams** Oriana employs a diversified portfolio of commercial models to ensure **recurring revenue, client flexibility, and margin stability**: | **Model** | **Description** | **Revenue Impact** | |---------|------------------|--------------------| | **EPC (CAPEX)** | Full project delivery for clients with upfront capital | High-margin, one-time revenue | | **RESCO/BOOT/IPP** | Build-Own-Operate; clients pay per unit without Capex | Recurring annuity revenue (15–25 yrs) | | **Deferred Capex** | Hybrid RESCO model with blended funding | Balances risk and return | | **Development Advisory** | Services for InvITs, institutional funds, IPPs | Fee-based, scalable | | **Energy-as-a-Service (EaaS)** | Custom C&I solutions with storage & digital monitoring | Future growth segment | | **Carbon Credit Monetization** | Generates and sells carbon credits (e.g., JK Cement project: 96,645 tons/year) | Ancillary revenue stream | --- ### **Strategic Partnerships & Collaborations** Oriana has built a robust ecosystem of alliances to accelerate execution and innovation: - **Actis GSP LLP**: - 1 GW joint development agreement backed by **USD 100 million equity over two years**. - Oriana retains **EPC and O&M rights**, ensuring long-term revenue. - Strengthens credibility, access to AAA clients, and global financing. - **Splitwaters (USA)**: - Technology partnership for **modular electrolyzers**, reducing CAPEX by 30%. - Co-developing **green hydrogen and e-fuel facilities** in India, UK, and Europe. - **Invest Alberta (Canada)**: - MoU for **$300–500 million** renewable complex, scalable to **$1 billion**. - Entry into North American green fuels market. - **Government MoUs**: - Total commitments: **₹15,500 crore** across Rajasthan (₹10,000 Cr), MP (₹5,000 Cr), Assam (₹500 Cr). - Projects include **685 MW solar + 104 MWh BESS (Rajasthan)**, **e-methanol + CCUS complex (MP)**. - **Subsidiaries & Acquisitions**: - **Majestic Ocean Pvt Ltd** (99.99% acquired, Sep 2025): Focus on **green ammonia, e-methanol**. - **Truere Knight Pvt Ltd** (acquired Dec 2024): Strengthens EPC and O&M capabilities. --- ### **Financial & Commercial Performance (FY25 Highlights)** - **Installed & Commissioned Capacity**: >400 MWp - **Projects Under Execution**: >550 MWp - **Order Book**: - Solar: ~1 GW - BESS: ~1 GWh (secured and pipeline) - Green Ammonia: 60,000 TPA offtake agreement (MP fertilizer plant) - **Revenue**: >INR 1,000 crore (FY25) - **Market Cap**: USD 500 million (achieved) - **Asset Recycling Milestone**: - Sold **238 MW solar plants** for **~USD 108 million**. - Enables capital redeployment every **18–24 months** while retaining O&M contracts. --- ### **Technology & Innovation** Oriana leverages digital and advanced technologies to enhance scalability, efficiency, and competitiveness: - **AI-driven forecasting and control systems** for grid optimization. - **Blockchain-enabled traceability** for renewable fuel offtake. - **Proprietary energy management systems (EMS)** and **digital twin platforms**. - **SAP-integrated operations** with real-time project control tower. - Focus on **modular, plug-and-play BESS and hydrogen plants** to reduce timelines. --- ### **Geographical Expansion** - **Domestic Footprint**: - Operations in **22 Indian states**, landbank of **~2,900 acres**. - Focus on **high-growth states**: Haryana, Andhra Pradesh, Rajasthan, UP, Tamil Nadu, Karnataka. - **International Presence**: - Kenya (operational since 2017). - Canada (via Invest Alberta MoU). - Europe (co-development with Splitwaters). - Exploring Middle East and Africa for EPC and IPP opportunities. --- ### **Policy Engagement & ESG Alignment** - Collaborates with **MNRE, SECI, state DISCOMs, and InvITs** to shape policy and secure viability gap funding (VGF). - Participates in national hydrogen missions: **Harit Mala, Harit Sagar**. - Aligns with **India’s net-zero 2070 goal** and **energy independence by 2047**. - Promotes **circular economy** via CBG, carbon capture, and dual-use land models (agro-PV). --- ### **Key Client Segments & Project Portfolio** Oriana serves **industrial conglomerates, utility companies, government PSUs, educational institutions, and real estate developers**. #### Notable Projects: - **Dalmia Cement**: 90 MW solar, Tamil Nadu - **JK Cement**: 50 MW solar, Rajasthan (generates 96,645 tCO2e/year in carbon credits) - **BPCL**: 71 MW solar - **Maharashtra SEB**: 100 MW ISTS-connected solar - **Delhi GNM**: Powers 138 DDA parks via 1 MWp solar; 3 MWp under construction - **Agro-Photovoltaics**: 25 MWp in Delhi – **India’s largest dual-use solar farm** - **Floating Solar**: 2.7 MWp in Rajasthan --- ### **Organizational & Operational Strengths** - **Workforce**: Grew from **92 (FY24) to 252+ employees** (2025). - **Leadership Structure**: Vertical-wise execution units for solar, BESS, hydrogen, and CBG. - **Training & Development**: Cross-functional skilling in hydrogen and digital systems. - **Supplier Network**: Partnerships with top-tier component manufacturers for secure supply.