Oriano Recovers in Business With 350 MWp of New Solar Projects

• The business has more than Rs 300 crore-contracts in hand.
• Tt lately won 70 MW of allocation in Uttar Pradesh for C&I consumers and closed corporate PPAs of 55 MWp in Karnataka and Maharashtra.

Mumbai-based Oriano Solar has actually begun building 350+ MWp of utility-scale solar projects across numerous states in the country. With this project, the building and construction engineering company has greater than Rs 300 crore-contracts in hand.

In growth business, Oriano stated it just recently won 70 MW of allowance in the state of Uttar Pradesh for C&I customers and closed business PPAs of 55 MWp in Karnataka and Maharashtra with AA ranked customers. The business stated it has actually produced 175 MWp of projects in shovel-ready status.

In addition, Oriano won a couple of projects in the restricted capex segment. Oriano is executing these projects throughout the stages of advancement, engineering, procurement, building and construction, and operation and upkeep.

Lokendra Singh, Business Head, EPC business and Founder, claimed, "We had actually won 125 MWp of projects in open access (OA) mechanism last year, nevertheless, due to COVID-19 pandemic, these projects PPA/ SHA closure got postponed. We have currently seen a sharp rebound in the business and our order publication has actually enhanced to 350+ MWp with mix of opex and capex projects."

"We are seeing increased passion in Commercial & Industrial (C&I) Open Access Segment and we being directly engaged with business consumers with their power requires, we have the ability to provide bankable PPAs in addition to fast delivery of the project due to internal development & EPC capabilities," Mr. Singh added.

Founded in 2015, Oriano has 700+ MWp of solar growth & EPC projects set up & under execution, and its customer listing comprises Honda, Bosch, Bajaj Auto, Amway, Cipla, Tata Communications, First Solar (UNITED STATES), Aditya Birla Renewables, Solarpack (Spain), Downing (UK), Technique Solaire (France), HAL, HPCL, among others. According Deloitte Fast50 2018 and 2019 positions, the company is amongst fastest 50 expanding technology firms in the nation.

SIDBI Venture Capital is an equity investor in the business and Oriano has just recently increased financial obligation INR 15 crore from Caspian Impact Investments and Northern Arc.