FCC

Oriana Power Eyes 60 GW Solar, Expands into Hydrogen & Storage

2025-05-23

Founded in 2013 by engineers Rupal Gupta, Parveen Jangra, and Anirudh Saraswat, Oriana Power began as a consultancy with a clear mission: combine profitability with environmental sustainability to deliver long-term climate value.

Over the years, Oriana transitioned from consultancy to EPC (engineering, procurement, and construction) services in 2017, and then to an IPP (independent power producer) model in 2019. This shift allowed the company to invest its own capital in solar energy projects while helping clients overcome financing hurdles.

“We’ve delivered landmark projects including floating solar plants, hilltop installations, and even a 28 MW plant on a coal dumping yard,” said Anirudh Saraswat, Co-founder and Chief Business Officer. A 3 MW floating solar plant in Visakhapatnam, commissioned during the pandemic, became one of the largest of its kind at the time.

Oriana has since executed solar energy projects across India and Kenya, offering cost-effective solutions to corporates, industries, and government bodies. Despite early struggles with funding, the company secured its first project loan from SBI after seven attempts—an achievement that paved the way for growth without equity dilution.

The company expanded rapidly during and after the COVID-19 pandemic, supported by a strong network of 83 channel partners. In August 2023, Oriana launched a successful SME IPO worth nearly Rs 600 million and earlier raised over USD 1 million in a pre-IPO round. This brought both capital and credibility, enabling a shift from BBB+ to AAA-rated clientele and growing its portfolio to over 600 MW of completed and ongoing projects.

In 2024, Oriana raised a further Rs 2 billion through a preferential round, a testament to its strong market position. The company is now targeting 60 GW in EPC projects and 2.5 GW in IPP over the next five years.

With energy security a national priority, Oriana has transitioned to sourcing domestic solar modules and is expanding into battery energy storage systems (BESS) and green hydrogen. It was the lowest bidder for two major BESS tenders in Telangana and Rajasthan and is also developing modular hydrogen solutions. A 1 GW electrolyser factory is planned in Madhya Pradesh to support scalable, cost-effective hydrogen production.

“India still imports petrol, diesel, and lithium batteries. It’s time to change that,” said Saraswat. “We’re building end-to-end clean energy systems to help make India energy self-reliant.”

Image source:mercomindia