Oriana Power Reports Strong Half-Year Results, Eyes Ambitious Growth in Clean Energy Sector

Oriana Power Limited today announced its unaudited financial results for the half-year ending September 30, 2024, showing significant growth across its operations and a promising outlook for the future.

The company reported revenues of ₹359.54 crores for the period, marking a remarkable 461.27% increase from ₹64.05 crores in the same period last year. Profit before tax surged to ₹67.29 crores, compared to ₹8.56 crores in H1 FY2024, while profit after tax reached ₹48.57 crores, up from ₹5.73 crores in the previous year.

Commenting on the results, Oriana Power’s management highlighted the company’s rapid expansion in India’s clean energy sector, driven by strong demand for its solutions. “In the first half of FY2025, we achieved remarkable growth, propelled by our team’s dedication and execution excellence,” said the company in its management commentary. The company also noted the growth of its order book, which now exceeds 500 MW, and its strategic partnership with a US-based firm to establish a green hydrogen electrolyser Gigafactory.

Oriana Power’s half-year highlights include:

• Over 500 MW of projects under construction, with a business pipeline exceeding 1500 MW.
• Successful completion and delivery of more than 50 MW of projects.
• A significant increase in team size, growing from 92 to 166 members as of November 2024.
• A target of achieving 500 MW of operational capacity by 2026, with an additional 500 MW planned for 2027.
• Strategic partnership with a US-based electrolyser manufacturer and an MoU with a hydrogen off-taker for 350 kg of hydrogen production per day.
• Ongoing discussions with off-takers in the US and Europe for e-Methanol and Green Ammonia projects.

The company also secured several key projects, including a 128 MWp project with a cement manufacturer in Tamil Nadu and a unique project supplying power from Uttar Pradesh to multiple states under ISTS mode for a PSU giant. Additionally, Oriana is working on India’s largest Agro-Photovoltaic project in Delhi and a 250 MW solar park in Rajasthan, aiming for a total capacity of 1 GW.

Oriana Power’s recognition as one of “The Best Places to Work” by the Times of India and its award as the “Champion of the Service Sector” at the Bharatiya Udyamita Utsav 2024 further reflect its growing industry stature.