The Economics of Green Energy
The Economics of Green Energy
August 22, 2021
Sun shines brightly on Solar Energy sector in Telangana
September 20, 2021

Solving the unemployment crisis by switching to renewable energy

As India focuses on reducing carbon footprint by expanding its renewable energy capacities, the sector is likely to create thousands of jobs in the coming years. According to a study by International Renewable Energy Agency (IRENA) released in October 2020, India is the third largest job provider in the renewable energy sector after China and Brazil. India’s renewable energy sector provides 8.24 lakh jobs – solar photovoltaic segment being the largest provider employing  2.04 lakh for direct and indirect jobs. 1.09 lakh people are employed in on-grid solar sector while the off-grid sector employs 95 thousand people.

The IRENA study further states that India accounts for 19 per cent of the 1.93 million people employed worldwide in the hydropower sector, employing around 3,67,000 people. Jobs in the renewable energy sector reached 11.5 million globally in the year 2019, led by solar PV accounting for 3.8 million jobs. Employment opportunities in the sector has been growing worldwide since 2012.

With the Indian government setting ambitious target of generating 40 per cent of its energy from renewable sources by 2030,  jobs in renewable energy in India are set to grow further. Over the next five years, the solar and the wind energy sectors in India could generate 330,000 jobs, according to a report by the World Resources Institute. These jobs would be  in areas including manufacturing, project design, construction, business development, and operations and maintenance. Therefore switching to renewable energy will not just make our environment cleaner, the sector can address India’s unemployment crisis as well.

Solar and Wind Energy    

In April 2020, renewable energy generated more electricity than coal. Solar and wind are the two main sectors that are expected to grow significantly in the coming years. These sectors are likely to create more jobs, with hydropower and biofuel following in the tow. The improvement in economic indicators could be the main reason behind growing employment opportunities in the sector. Businesses have recognized that sustainable development is crucial to long-term success, performance, and investment. Indian Renewable Energy Development Agency Ltd. (IREDA) has invited bids from solar module manufacturers for the establishment of solar manufacturing units under the central government’s Rs. 4,500 crore (US$ 616.76 million) Production Linked Incentive (PLI) scheme in June 2021.

Socioeconomic stability is an important element in determining sustainability. Without it, no industry can be considered truly sustainable. Renewables have the potential to play a critical role in resolving the current unemployment crisis by assisting countries in transitioning to a more sustainable energy system. The energy industry, particularly in the wind and solar sectors, could undergo a massive transformation in the coming years, creating number of jobs and boosting the economy. The global pandemic may have slowed the expansion of clean energy in the short term, but it is not likely to have a significant long-term impact. While the future is never certain, renewable energy will play a significant role in economic recovery.

Developing the right talent to help the sector grow

Owing to the spurt in activities and developments in technology, the renewable energy sector is currently faced with a skill-gap, especially in the technical skills. Therefore, to help the sector grow and further India’s renewable energy commitments, developing the right talent would be the key.

Highlights:

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Priyadarshan

Priyadarshan Bhatewara, CFA

Chief Financial Officer

He has 15 years of experience in Corporate Finance, Project Finance, Project Management, Business Development, and Financial Analysis of Climate Change Projects. He has worked in Hydro Power, Thermal Power, Wind Power and Solar Power projects. He has expertise in closing Investment deals, Management Information systems, Data Analysis, Financial Modelling. He has worked with companies like Azure Power, ReNew Power, Asian Development Bank, Rattan India, SNC Lavalin and Mott MacDonald. Priyadarshan has been awarded Zee Yuva Award (2017) for best practises in water conservation, Water Crusader Award (2017) by Hindustan Unilever and Energy Conservation Award (2016) by Vigyan Bharti. He holds a Bachelor in Engineering from VJTI, Mumbai, M.Tech from IIT Delhi and has earned CFA Charterholder from CFA Institute, USA.

Kasturi Roy

Advisory Team

Ms. Kasturi Roy Choudhury is on the Advisory team at Premier Energies. She has over 3 decades of professional experience with ‘Consultancy for Change and Growth’ and specializes in the areas of Management Consultancy and Corporate Training. At CFCG, Kasturi works as a Senior Consultant anchoring key client relationships & accountable for deliverables.

In her personal capacity, Kasturi is associated with social organizations like Jeevika Development Society, Garbage Free India & Sanjeevani Life beyond Cancer. Her distinguished academic career includes:PGDM from IIM Ahmedabad (1988), DBF from ICFAI, Hyderabad (1990), BE (Electrical) from Jadavpur University (1986).

SURENDER PAL SINGH

Founder & Chairman

A visionary, Surender Pal Singh is an eminent energy expert and accomplished business leader with over 40 years of rich industrial experience. His work states achievements in both conventional as well as non-conventional power projects. Known for his resourcefulness and deep knowledge on Solar, he has been conferred with national and international awards such as the International Project of The Year from Renewable Energy World, USA 2013, National Awards for Excellence in Renewable Energy for Rural Electrification from World Federation Of CSR Professionals, 2015, Udyog Bharti & Udyog Patra awards from the Vice President of India. A mechanical engineering graduate from Dharwad University, today he oversees operations and finance of the organization in addition to mentoring the young leaders.

CHIRANJEEV SALUJA

Founder & Managing Director

He is one of India’s 100 Most Influential Solar Business Leaders and a visionary who transformed the company from a solar enterprise to an integrated renewable energy solutions provider. Steering the company from a 5 MW production capacity in 1995 to 500 MW in 2018, he is now leading Premier Energies towards growth by expanding the production capacity to 750 MW solar cells and 1.2 GW solar modules.

He is a Founding Member of Premier Solar Power Tech and has built over 650+ MW of EPC and 130 MW of IPP. He serves as a Director on board for over 10 companies in the Solar Manufacturing and IPP space and the All India Solar Industries Association (AISIA). He is a member of the Governing Council of Indian Solar Manufacturers Association (ISMA). He holds a bachelor’s degree in Engineering from Osmania University, Hyderabad.

SUDHIR MOOLA

Executive Director

A distinguished engineer from JNTU, Hyderabad; an MS from Colorado University and an MBA from ISB, Sudhir has worked with PwC, USA before taking on a directorial mantle at Premier Energies. He heads the EPC business, as well as the construction of our new state of the art manufacturing facility. Sudhir is actively involved in all day-to-day operations of the organization, from managing external relations to defining policies, supervising department heads, and working on strategies for growth and business expansion.

VISHNU HAZARI

Chief Operating Officer

He brings over 14+ years of rich consulting experience in BFSI, Pharma and Healthcare sectors, having worked at JP Morgan Chase, Anthem, Infosys, Cognizant and Deloitte. He holds a MS (Mechanical Engineering) from Western Michigan University. At Premier Energies, Vishnu is responsible for managing the entire spectrum of operations of the manufacturing division.

REVATHI ROHINI B

Director & CFO-designate

She has served the Government of Telangana for over 30 years and retired as an Additional Commissioner of Commercial Taxes. A graduate in Agricultural Sciences, she brings in with her a rich, on-ground experience in indirect taxation and government regulatory affairs. A trailblazer and an expert in legal and commercial taxes, she now leads all financial and government related matters of the organization.

NIYATHI MADASU

Director

She comes in with over 16 years of experience in Talent Management, Leadership Consulting & Organization Development. She is proficient in a variety of methodologies including leadership framework development, psychological profiling & assessment, and design of talent management frameworks.

Niyathi holds an MBA in HR from the Symbiosis Centre for Management and Human Development, Pune and an executive certification in organization development from ISB Hyderabad. She leads People Operations for the group and double hats as a member of the marketing & branding team. She recently joined the elite Business World People 40 under 40 2020 list.

Jasveen Saluja

Director

She’s been a serial entrepreneur and comes in over a decade of experience in running her own company specialising in interior design. With an astute sense of business, she is responsible for business development, procurement, project planning and government liaisoning. She has a degree in commerce and fashion designing.

Dhruv Sharma

Advisory Team

Mr. Dhruv Sharma, has been associated with Solar Manufacturing in India since 2008. As the CEO of Jupiter Solar, he has played a pivotal role in the transformational journey of the company. He is responsible for leading the development and execution of the company’s vision, strategy and plans.

His understanding of the business has been instrumental in evolving growth strategies and significantly contributed to implementation of the group’s expansion and diversification into solar power sector.

Additionally, as Chief Business Manager at Premier Energies, he holds the responsibility of leading the foray of the Company into Solar cell manufacturing, focusing on Technology, Vendor relationships, Project management, Organization building and Key Account Marketing.