Oriana Power's Ambitious Expansion into Green Hydrogen and E-Fuels Industry
Key Ideas
- Oriana Power, a renewable energy company in India, plans to establish a one gigawatt electrolyser factory costing $60 million by 2027.
- The company aims to contribute to India's energy security by investing in e-fuels such as a green ammonia project in Odisha and an e-methanol project in Uttar Pradesh.
- An equity raise is planned in the next four to five months to support the expansion into green hydrogen and e-fuels production.
- The firm's green hydrogen and e-fuels projects are projected to start yielding returns by the next financial year and are expected to significantly boost revenues by FY27.
Oriana Power, a NSE-listed renewable energy company based in Mumbai, is embarking on an ambitious plan to venture into the green hydrogen and e-fuels industry. The company intends to establish a one gigawatt electrolyser factory at a cost of $60 million, with the first phase of 500 MW expected to be operational by 2026. Anirudh Saraswat, the co-founder, highlighted that this factory will manufacture electrolysers and complete balance of plant (BOP) components for the hydrogen ecosystem.
In addition to the electrolyser factory, Oriana Power is focusing on e-fuels projects to enhance India's energy security. They are progressing with an e-methanol project in Uttar Pradesh with a capacity of 225 tonnes per day, set to commence by the end of 2025. Furthermore, a green ammonia project in Odisha with a capacity of 300 tonnes per day is also in the pipeline. The company has identified land for both projects and is in the final stages of discussions.
To support its expansion plans, Oriana Power is preparing for an equity raise in the coming months. The firm's strategic roadmap aims to position their green hydrogen and e-fuels businesses for revenue generation starting from the next financial year, with significant contributions expected by FY27. This move signifies Oriana Power's commitment to sustainable energy solutions and its proactive approach towards driving the adoption of green technologies in the Indian energy landscape.