The world is changing how it produces power. The new energy model created by the globalization of trade is replacing fossil fuels with renewable sources in places where cost-effective solar, wind, and hydro energy are available. In addition, as a result of environmental concerns and fuel supply problems, many governments are beginning to mandate that their citizens use alternative energy. Onix Renewable Energy (ORE) has become one of the strong emerging players in this new energy landscape by implementing innovative technologies and creating a strategic plan for expanding into the future.
A Vision for Sustainable Growth
Onix Renewable provides a wide range of services related to the production and supply of renewable energy. The company was established in 2007 in Rajkot, Gujarat, and has developed into one of the largest renewable energy companies in India. Founder Divyesh Savaliya has led the transformation of Onix from a project execution company to one that provides customers with complete renewable energy solutions including solar parks and wind parks; hybrid systems and storage systems; as well as the manufacture of solar photovoltaic systems.
Although Onix was originally focused on generating electricity through non-renewable sources, the company's vision is much broader than that. In addition to generating electricity, Onix's current strategic plan is to transition India from its dependence on fossil fuels and to support energy independence in the country. To support its vision, Onix has set an aggressive target for itself of creating 10 gigawatts of renewable energy by 2030 and producing green hydrogen and ammonia to meet the needs of the new clean energy market
Strong Financial Performance Signals Growth
The financial results for FY 2024-2025 have demonstrated Onix's ability to produce significant growth and execute on strategy. The company had revenues of ₹1001.30 Crore, which is an impressive increase of 185.8% over prior year revenues. Net Profit increased by 191.7%, to ₹153.46 Crore, which reflects the growth of Onix's business and improvements in operational efficiency.
In FY 2024-2025, an EBITDA of ₹156.45 Crore reflects the strength of Onix's operations that occur in response to the growing demand for renewable energy solutions across various markets. PAT (profit after tax) showed a similar strong uplift reinforcing confidence among stakeholders and investors.
Onix's operations were expanded in many key market areas during this period, especially in Gujarat, Maharashtra, and Rajasthan, where Onix completed many projects under various Government Schemes, including PM-KUSUM and Solar-Wind Hybrid initiatives. The company was also able to improve its operational contemporaneously by implementing Smart Monitoring Tools and AI-based Maintenance for all of its operational sites.
Strategic Expansion and Capacity Plans
Onix has set an ambitious growth strategy that is future-focused. In the coming years, Onix is planning to invest around ₹25,000 crore into developing 7 GW of renewable capacity along with 5 GW of solar module & cell production capacity. This is part of Onix's larger objective of building a total renewable portfolio of 10 GW by 2030, with roughly 80% coming from solar energy. As a part of this growth initiative Onix will establish large-scale manufacturing facilities for producing solar modules and cells, which will greatly enhance India's domestic supply chain for clean energy. Four solar module production facilities with capacities ranging from 2400 MW to 1200 MW will form the first phase of projects in the very near term, creating additional opportunities for domestic manufacturing and decreasing dependence on imported components.
Execution Excellence and Innovation
Onix ranks high in the capacity to manage a vast number of sizable-scale projects, using innovative techniques, including Renewable Energy projects. Onix has completed over 500 MW of Renewable Energy from Solar, Wind, Hybrid Systems, and Energy Storage Solutions. It has an extensive team of trained specialists and years of experience in the industry. As such, Onix is poised for long-term growth as a Renewable Energy Project Developer in both India and other parts of the world.
Contributing to India’s Clean Energy Mission
The trajectory for growth of Onix will remain closely tied to India's overall clean energy objectives, such as the present National target of 500 gigawatts of installed battery capacity by 2030. As Onix and other companies within the renewable industry support improvements in the deployment and innovation of technologies, these projects will also create clean energy, as well as provide jobs, suppress greenhouse gas emissions and boost the economic enhancement of rural areas throughout India.
Key Challenges in the Growth of Onix Renewable Energy
- Land Acquisition & Regulatory Hurdles: Renewable projects (especially large solar or hybrid parks) need significant land. Delays in acquiring land due to disputes, environmental clearances, and bureaucratic processes slow timelines and increase costs.
- Financing and Capital Intensity: Renewables are capital-intensive, particularly when scaling up manufacturing (solar PV modules, cells) and new technologies (storage, green hydrogen).
- Execution & Scaling Risks:Aggressive growth targets (e.g., 7–10 GW capacities and major manufacturing expansions) push the limits of project management and supply chain coordination.
- Supply Chain & Input Cost Volatility: Solar raw materials (polysilicon, wafers, cells) are still largely imported, exposing margins to global price swings and geopolitical supply risks.
Conclusion
Onix Renewables has played a pivotal role in shaping the future of the renewable energy industry, thanks to its success and continued commitment to sustainable development and strategic investments in the renewable energy industry. With these factors combined, Onix Renewables is well-positioned to continue its success as an innovator in this rapidly changing marketplace.