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

23 May 2025 CW Team

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

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

Real Estate

05 Aug 2026

CREDAI-MCHI to Host 10th Design & Construction Conference

CREDAI-MCHI will host the 10th anniversary edition of its Design & Construction Conference on August 19, 2026, at the Jio World Convention Centre in Mumbai.The event is expected to bring together more than 500 procurement leaders, construction heads, architects, consultants and senior real estate decision-makers, alongside over 50 construction and ancillary brands.The conference will feature product launches, technology showcases, knowledge sessions, strategic business-to-business networking and recognition of procurement professionals contributing to the transformation of the construction..

Infrastructure Energy

05 Aug 2026

BorgWarner Wins Extension for High-Voltage Inverter Programmes

BorgWarner has secured a major extension of several high-volume high-voltage inverter programmes from a leading European automotive manufacturer.The contracts cover updated inverter designs for plug-in hybrid and 800V battery-electric vehicle applications. Production is scheduled to begin in 2029.Isabelle McKenzie, President and General Manager, BorgWarner PowerDrive Systems, said the programme extensions demonstrate the company’s position in power electronics and reflect the strength of its technology, in-house expertise and customer relationships.For plug-in hybrid vehicles, BorgWarner wil..

Infrastructure Urban

05 Aug 2026

Castrol India Q2 Profit Rises 43% to Rs 3.48 bn

Castrol India reported a 43 per cent year-on-year increase in profit after tax to Rs 3.48 billion for the quarter ended June 30, 2026, supported by growth across its consumer, industrial and institutional businesses.Revenue from operations increased 25 per cent to Rs 18.71 billion during the second quarter of 2026, compared with Rs 14.97 billion in the corresponding period of 2025. EBITDA rose 41 per cent to Rs 4.94 billion from Rs 3.50 billion.Sequentially, revenue increased from Rs 15.45 billion in the first quarter of 2026, while EBITDA rose from Rs 3.29 billion. Profit after tax increased ..