| Oriana Power Limited was originally incorporated on February 21, 2013 as a Private Company with name 'Oriana Power Private Limited' in Delhi. Thereafter, Company was converted from a Private Company to Public Company and consequently, name of Company got changed to Oriana Power Limited' through fresh Certificate of Incorporation issued on April 24, 2023 by Registrar of Companies, Delhi.
Oriana Power is a company that specializes in providing solar energy solutions to industrial and commercial customers. The Company
offer low carbon energy solutions by installing onsite solar projects such as rooftop and ground-mounted systems, as well as offsite solar farms i.e. Open access. Their business operate mainly into two segments: Capital Expenditure (CAPEX) and Renewable Energy Service Company (RESCO). The Company is engaged into the business of solar energy solutions. Apart from these, it constructs, install and operate solar projects for industrial and commercial customers.
Under the CAPEX model, Company offer Engineering, Procurement, Construction, and Operation of Solar Projects. In this model, consumers own the system, fund it, and consume the energy generated throughout the project life, so the consumer is responsible for the risks associated with the operation, management, and maintenance of the system. Often the consumer finances this through bank funding. Under CAPEX Model, they have delivered projects with capacity exceeding 100 MWp across various locations to India and Kenya (Africa) since commencement of business activity in this area of service i.e. June, 2017.
Under the RESCO model, Company operate through 17 subsidiaries. These subsidiaries provide solar energy solutions on a BOOT (Build, Own, Operate, Transfer) model basis, allowing customers to enjoy the benefits of solar energy without the upfront investment. Once construction and commissioning are completed, a detailed set of 'as built' documents is handed over to the O&M (Operation and Maintenance) service provider. All the investment, commissioning and maintenance are done at their end and in lieu of that, the Company sells power to end consumer through a Power Purchase Agreement (PPA).
The Company ventured into Solar Business in 2017 and started Solar EPC model. Thereafter, in 2018 it got into overseas for EPC business and delivered 2 projects in Kenya; it ventured into Solar RESCO/ OPEX Project; and itself installed First RESCO Project. Presently, Company has a diverse portfolio of operational and under-construction projects with a capacity exceeding 35 MWp across various locations in India, including Rajasthan, Delhi, Haryana, Goa, Punjab, Gujarat, Karnataka, Andhra Pradesh, Odisha, and more. Additionally, it has expanded global presence in Kenya, Africa.
The Company launched an IPO of 50,55,600 fresh issue of equity shares having face value of Rs 10 each by raising funds aggregating to Rs 60 Crore in August, 2023. |