Rs 2,500+ crore order book: Solar Power Company and Invest Alberta Corporation Ink MoU for Renewable Energy, Green Hydrogen, and E-Methanol Projects in Canada

Oriana Power Limited, a prominent renewable energy Independent Power Producer (IPP) headquartered in India, has announced a significant step in its global expansion strategy. The company has entered into a non-binding Memorandum of Understanding (MoU) with Invest Alberta Corporation (IAC) of Canada. This collaboration aims to explore and develop renewable energy projects, including green hydrogen and e-methanol initiatives, within the province of Alberta, Canada.

Under the terms of the MoU, Oriana and IAC intend to develop a vertically integrated renewable energy complex. Oriana has expressed a strategic inclination to consider phased investment opportunities in these projects, with an initial range of USD 300 million to USD 500 million. This investment has the potential to scale up to USD 1 billion within five years, contingent upon the identification of viable business projects. Invest Alberta Corporation will play a crucial role in supporting Oriana by navigating provincial programs, optimizing collaboration with the Alberta Government, building connections with domestic and international stakeholders, and facilitating partnerships with Alberta's post-secondary institutions to develop a skilled talent pipeline.

Mr. Anirudh Saraswat, Chief Business Officer of Oriana, highlighted Alberta's emergence as a key market for the company, citing the province's incredible potential for renewable energy and hydrogen investment, particularly in Calgary. He emphasised that this collaboration signifies an investment not only in clean energy but also in people, communities, and the shared future of both India and Alberta. Mr. Rick Christiaanse, Chief Executive Officer of IAC, echoed this sentiment, stating that the partnership aligns with Alberta's strategy to attract global leaders in clean technology and renewables, aiming to create jobs and diversify the provincial economy while supporting its continued leadership in the global energy transition.

Oriana Power Limited, formerly known as Oriana Power Private Limited, is committed to building sustainable energy assets that support national and global decarbonization efforts. The company currently owns and operates 500 MW of solar assets and is set to achieve 2 GW by the end of next year. As a "TrueRE" company, Oriana is actively expanding across various clean energy technologies, including Battery Energy Storage Systems (BESS) with a total capacity of 650 MWh, Green Hydrogen projects with an allocation of 10 KTPA secured from SECI (Solar Energy Corporation of India), and Compressed Biogas (CBG) projects.

Over the past three months, the stock has delivered strong multibagger returns of 74.04 per cent. However, the year-to-date return stands at 5.54 per cent, and the stock has declined 2.04 per cent over the last 12 months. The company currently operates in the Small-Cap segment.

For FY25, Oriana Power posted a consolidated total revenue of Rs 987.16 crore. Its Profit After Tax (PAT) was Rs 158.55 crore, translating to a PAT margin of 16.06 per cent. The company reported EBITDA of Rs 245.38 crore, and its Basic Earnings Per Share (EPS) stood at Rs 79.52. The performance reflects operational efficiency and consistent profitability.

Disclaimer: The article is for informational purposes only and not investment advice.