Over the last decade or so, terms like sustainability, decarbonisation, and reducing Greenhouse gas emissions have gained momentum. While discussions on these issues have begun much before that, the seriousness of these issues has increased in the last few years because of large-scale environmental degradation, pollution, and increasing carbon footprint by industries.
One of the main culprits of this destruction is rapid urbanization and industrialization which has led to degradation of the ecology across the country, impacting the environment, and exposing Indian citizens to several health problems including cancer.
Fossil fuels, the most widely used across the world, are possibly the largest perpetrators of environmental degradation, primarily through their release of greenhouse gases, air, and water pollutants.
There is widespread recognition that the need of the hour is to shift to cleaner fuels to not only save the environment but also improve the quality of life of our present and future generations. The answer lies in renewable energy which is expected to become the dominant source of electricity globally by 2030, with solar photovoltaic (PV) technology taking the pole position, followed by wind power.
Today, solar, wind, and hydro are not just environmentally ethical choices, they are economically strategic. They are symbols of a greener future and the backbone of financial opportunity.
Renewables are also the most affordable source of electricity. In the last 10 years or so, the cost of clean energy has dropped significantly. Renewables spell good fortune for investors as well. Research indicates that the Energy Return on Investment (EROI), a measure of returns on money invested in energy, for renewable energy, particularly wind and solar, is far higher than fossil fuels and is increasing at a healthy rate while that of fossil fuels has been declining as reserves are depleting, requiring more energy-intensive extraction methods.
The Indian government launched the National Solar Mission (NSM) in 2010, to promote solar energy development and deployment through various schemes like solar parks, rooftop solar, and off-grid applications. The initial target of 20 GW by 2022 was significantly increased to 100 GW.
It also announced the National Wind-Solar Hybrid Policy, to encourage the development of projects that combine wind and solar power generation to improve grid stability and capacity utilization. At the same time, the government also launched the National Green Hydrogen Mission in January 2023, with an outlay of Rs.19,744 crore, to make India a global hub for the production, utilization, and export of green hydrogen and its derivatives.
Production-linked incentive (PLI) schemes for solar PV modules and other renewable energy components encourage domestic manufacturing and are also there to encourage the private sector to get seriously involved in this effort.
Of course, there are challenges in this path, particularly from grid integration, intermittency, financing, and policy implementation. But both the government and the private sector have shown commitment towards this pressing issue. The light at the end of the tunnel is visible, and the path is well-illuminated. It is a matter of time before we become the flag bearer for the rest of the world.
About Prashant Mathur
Mr. Prashant Mathur is the Chief Executive Officer of Saatvik Green Energy Limited. He has been associated with the Company since April 1, 2021, and was appointed as a key managerial personnel (Chief Executive Officer) by the Board Members of the Company.
He holds a bachelor바카라™s degree in engineering from Amravati University, a master바카라™s degree in management studies from Rizvi Institute of Management Studies (University of Mumbai), and a diploma in export management from the Indian Institute of Export Management, Bangalore.
Mr. Mathur brings over 20 years of experience in the renewable energy sector. Throughout his career, he has demonstrated strong commercial acumen and a deep understanding of scaling businesses across domestic and international markets. Prior to joining the Company, he held leadership roles at Mundra Solar PV Limited (formerly Adani Solar), Vikram Solar Private Limited, Targray India Private Limited, and Solis Solar Group.
Since joining Saatvik Green Energy Limited, Mr. Mathur has spearheaded key strategic initiatives, resulting in exponential sales growth, diversification into new business verticals, and significant operational expansion. Under his leadership, the Company launched its Solar EPC division, expanded into international markets, and has ventured into new businesses, including Inverters, Battery Energy Storage Systems (BESS), and Solar Pumps to further diversify its clean energy offerings.
Mr. Mathur has played an instrumental role in scaling the company바카라™s business growth and enhancing its manufacturing footprint. The production capacity at its Ambala facility grew from 240 MW to 3.80 GW per annum under his leadership. He continues to drive Saatvik바카라™s growth through its backward integration strategy, with the establishment of an integrated cell (capacity: 4.80 GW per annum) and module manufacturing facility (4 GW) in Odisha, aimed at strengthening supply chain resilience and meeting the rising demand for high-quality solar products.
