Oriana Power Limited has incorporated a wholly owned subsidiary, EVERCORE PROJECTS PRIVATE LIMITED, to expand its presence in the power generation and renewable energy sector. The new entity was officially incorporated on April 07, 2026, with the Certificate of Incorporation received by the company on April 17, 2026.

Subsidiary Details and Capital Structure

The newly formed subsidiary has been established with specific financial parameters and operational focus areas:

Business Objectives and Scope

The subsidiary will operate in the power generation industry with a comprehensive mandate covering multiple aspects of energy business. The primary business objectives include:

• Power Generation and EPC: Generation of electric energy, EPC of power projects, operation and maintenance services, and consultancy in power project processing
• Electric Supply Operations: Construction and establishment of power stations, cables, wires, transmission lines, and electricity distribution to public and private entities
• Renewable Energy Focus: Development of conventional and non-conventional energy sources including Compressed Bio Gas, Battery Energy Storage Systems, Hydrogen Electrolyzers, Green Hydrogen, and e-Fuels
• Advanced Energy Solutions: Research, development, manufacturing, and commercialization of renewable fuels including hydrogen, fuel cells, green ammonia, e-methanol, and green methanol

Regulatory Compliance and Structure

The incorporation follows all regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. As a wholly owned subsidiary, EVERCORE PROJECTS PRIVATE LIMITED is classified as a related party of Oriana Power Limited. The formation required cash consideration through 100% initial subscription to the share capital by the parent company.

Strategic Positioning

The subsidiary's business model encompasses the entire value chain of power and renewable energy operations, from generation and transmission to distribution and specialized equipment manufacturing. The company will also provide consulting and advisory services both domestically and internationally, positioning itself as a comprehensive energy solutions provider in the growing renewable energy sector.

Company Secretary Tanvi Singh signed the disclosure document on April 18, 2026, confirming the subsidiary's incorporation and compliance with all applicable regulations. The new entity represents Oriana Power Limited's strategic expansion into specialized power generation and renewable energy technologies.

Oriana Power has secured a substantial green ammonia offtake agreement worth ₹3,135 crore with the Solar Energy Corporation of India (SECI), marking a significant development in India's renewable energy landscape. This strategic partnership has been structured under the National Green Hydrogen Mission, reflecting the government's commitment to advancing clean energy technologies.

Strategic Partnership Details

The agreement between Oriana Power and SECI represents a major commercial milestone in the green ammonia sector. The deal is part of India's broader National Green Hydrogen Mission, which aims to establish the country as a global hub for green hydrogen production and export.

National Green Hydrogen Mission Alignment

This offtake agreement aligns with the government's National Green Hydrogen Mission objectives, which focus on developing indigenous capabilities for green hydrogen production and creating a robust ecosystem for clean energy technologies. The partnership with SECI, a leading renewable energy facilitator, provides Oriana Power with a strong foundation for its green ammonia initiatives.

Market Implications

The ₹3,135 crore agreement positions Oriana Power as a key player in India's emerging green ammonia market. Green ammonia serves as both a hydrogen carrier and a clean fuel alternative, with applications spanning across fertilizer production, shipping fuel, and industrial processes. This deal demonstrates the growing commercial viability of green hydrogen derivatives in the Indian market.