Que: Can you provide us with an overview of Kundan Green Energy and its journey in the renewable energy sector since its inception in 2017?

Ans: Kundan Green Energy is founded on a premise which goes beyond business. We are driven equally by a deeply embedded belief in sustainability and the collective future of all life on earth. Kundan Green Energy has been at the forefront of renewable energy development with successful projects in several states. These projects are not just about creating power but also about helping the environment and ensuring we have enough energy for the future. While Kundan Green Energy is invested in solar, wind and hydropower, it is hydropower which is our prime focus. This focus on hydropower is due to its innate quality of sustained and consistent production of energy throughout the year. In hydropower storage, run-of-river, and pumped storage, all categories provide immense benefits: clean energy, base and peak load supply, quick ramp-up and ramp-down rates, black start, and operating reserve capability. In addition, pumped storage plants (PSPs) provide grid stability by acting as a green and re-chargeable battery to accommodate intermittent renewables such as solar and wind.

Que: With 10 successfully running projects and 9 in the pipeline, how has Kundan Green Energy contributed to the renewable energy sector in India?

Ans: Our contribution to the renewable energy sector in India, especially in hydropower, has been significant. A strong and growing presence notwithstanding, our salient strength is execution excellence - while the industry average in commissioning plants is 8-10 years, our mean average, including greenfield plants is a mere 4-5 years. The second unique strength we have is the fact that many of our running projects were acquired in a state of complete chronic shut-down since years, due to a variety of factors. We renewed, upgraded and optimized these redundant projects to a state of optimal performance in a record time of two years even during the COVID.

Que: As the Director of Kundan Green Energy, what specific strategies have you implemented in terms of project and land acquisition, organizational excellence, and adherence to global best practices?

Ans: The single overarching strategy I have implemented is a simple one – doing the right thing. While each business situation calls for its own specific plan and response, a driving force of domain excellence, integrity and high professional standards at all times is the best strategy in my experience. Kundan Green Energy is based on an operating principle of factual and ethical correctness, transparency, and a consistent effort to benchmark to the best. This is reflected in our commitment to mutually agreed deliverables. Our consistency in quality, timeliness and the technical brilliance of our experts have created a demonstrated reputation of excellence and integrity. A culture of learning, knowledge, teamplay reinforces this. Designed and driven by an intrinsic commitment to best practices across business operations, stakeholder engagement, quality and magnitude of output and day-to-day work, we are always improving ourselves. Each success makes us apply ourselves with renewed vigour. At the heart of this lies our disproportionate focus on knowledge and its innovative application executed with team-play to match the highest industry thresholds. My role and contribution besides helping create this value driven ecosystem, has been to ensure that it is constantly replenished, refreshed and expanded in keeping with our business growth.

Que: What challenges have you encountered in the green energy sector, and how has Kundan Green Energy overcome these challenges?

Ans: In addition to specific business operations led challenges, we continue to face sectoral challenges which affect the hydropower sector as a whole. Hydropower is an intricate energy option. Unlike solar, where simple solar panels in high sunshine areas are sufficient to harness electricity and unlike wind power with turbine installation in high wind velocity areas, hydropower is complex to set-up. For one, it is capital and time intensive. Key factors which directly affect hydropower project costs are land, labour, cost of finance, the long gestation periods, project size, silting and project access in addition to geological surprises. We have adopted operating guidelines and created an entire systemic ecosystem to address issues with speed and agility, while building out in-parallel according to plan.

Que: What opportunities do you see for the hydropower sector in India, and how can external sources contribute through investments?

Ans: Considering the cost overruns of delayed and stalled projects, investments required for concurred projects as well for those under survey and investigation stage, a total investment of INR 1,737 billion will be required for the realisation of the total hydro power capacity. The magnitude of this investment is likely to increase with further delay in the execution of these projects. Considering the inherent variability of solar and wind power and the country’s need to go green, the grid-balancing act will have to be increasingly taken over from coal by hydro power, making its development essential for the Indian power system. Hydro power plants have the ability to be quickly ramped-up, especially in the case of pumped storage hydro power plants. Unfortunately, India has only nine of these plants developed so far. The financing sentiment in the hydro power sector has been quite damp in the past two years with no major financial closure being reported. Stressed projects and assets have led to mergers and acquisitions in the sector as companies are looking to sell assets to reduce the burden of debt. There is therefore clear need as well as opportunity for a variety of partnership models.

Que: In what ways can hydropower help meet 50 percent of India's energy needs through renewable means by 2030? What role can Kundan Green Energy play in this?

Ans: Hydropower plants typically produce baseload power i.e. they do not alter their capacities rapidly. This means that fluctuations in demand are addressed with greater stability and predictability. Among the key strengths of hydropower is the fact that it is flexible. Hydropower plants can go from zero to maximum output quickly. And since they can provide power to the grid immediately, they provide essential power back-up during major electricity outages or disruptions. Hydroelectric generators can switch on/off instantly, this makes them one the most responsive energy sources, especially during alterations in demand. Another key attribute is that beyond electricity generation, hydropower mitigates flood control, creates support for irrigation and provides consistent clean drinking water. Hydropower is capable of producing significant amounts of energy without too much dependence of climatic/seasonal conditions. Since hydropower is entirely automated, the operating costs are comparatively lower and more efficient. With low failure rates and a long life-cycle, hydropower is more efficient in the longer term. These plants can be swiftly turned on and off, helping the grid withstand fluctuations caused by intermittent supplies from solar and wind. These key strengths mean that hydropower will be the energy of choice incrementally. As an exponentially growing player, Kundan Green Energy has a commensurate role.