The small-cap power stock, Oriana Power Limited, experienced a 5% surge in share price to Rs 2,223 per share following the signing of a memorandum of understanding (MOU) with Splitwaters, a US-based company. This partnership focuses on developing green hydrogen and E-fuel facilities in India, with Oriana Power handling business development and project execution while Splitwaters supplies electrolyzers and necessary equipment. The collaboration aims to cut green hydrogen and e-fuel project costs by up to 30%, enhancing efficiency and affordability. Financially, Oriana Power Limited exhibited notable growth, with sales and profits increasing by 181% and 390% respectively from FY23 to FY24. Additionally, the company's return on equity was 36.46% and return on capital employed was 51.12% for 2024, showcasing strong performance. Oriana Power also secured new orders, including a Rs 15 crore contract for a solar power plant in Gwalior, Madhya Pradesh. The company's debt to equity ratio reduced by 44% from FY23 to FY24, indicating improved financial health. Moreover, its shareholding pattern revealed 61.4% promoter holding, 35.48% public holding, and 1.17% FII holding, with specific stakes held by Societe Generale-Odi and domestic institutional investors. Oriana Power Limited, established in 2013 and headquartered in Ghaziabad, operates in solar power projects' EPC and operations, emphasizing renewable energy solutions on a BOOT basis. The company's growth trajectory and strategic partnerships position it favorably in the renewable energy sector.