Oriano starts construction of 350+ MWp of utility scale solar projects across various states in India. Oriano has been a key development partner extending services from Lead origination, PPA/SHA acquisition, Land due diligence, Land acquisition, Connectivity, EPC of the project & Asset management on a turnkey basis, thus creating a win-win proposition to all the stakeholders. With this, Oriano’s order book now exceeds INR 300 crore.
With margin pressures in the EPC business for the last few years, Oriano has increased its offerings with forming of Development division.
In Development business, Oriano has recently won 70 MW of allocation in the state of Uttar Pradesh for C&I customers and closed corporate PPAs of 55 MWp in Karnataka and Maharashtra with AA rated clients. Oriano has created 175 MWp of projects in shovel-ready status. Additionally, Oriano won couple of projects in the captive capex segment. Oriano is executing the project with a scope of Development, Engineering, Procurement, Construction, and Operation & Maintenance.
“We had won 125 MWp of projects in Open Access (OA) mechanism last year, however, due to COVID-19 pandemic, these projects PPA / SHA closure got delayed. We have now seen a sharp rebound in the business and our order book has increased to 350+ MWp with mix of Opex and Capex projects. We are seeing increased interest in Commercial & Industrial (C&I) Open Access Segment and we being directly engaged with corporate consumers with their energy needs, we are able to deliver bankable PPAs along with speedy delivery of the project due to in-house Development & EPC Capabilities.” said Lokendra Singh, Business Head – EPC business and Co-founder – Development division.
“With this additional 350+ MWp, we are targeting a portfolio of 1+ GW by 2022. Moving forward, we are looking to partner captive customers across sectors looking to adopt solar energy. Additionally, we are in discussions with new partners to fuel our growth,” Lokendra added.