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The Economics of Green Energy

The Economics of Green Energy

It is a commonly believed that switching to renewable energy sources maybe an expensive affair. However, according to experts, shifting to renewables requires far less investment than building new coal or nuclear power plants. This means lower electricity tariff that would benefit the economy as a whole.

Sustainable energy sources can aid sustainable development by making affordable and clean energy available to citizens. Strong government support and the increasingly opportune economic situation have helped India become one of the key players in the global renewable energy market.

Renewable Energy in India

India has set an ambitious target to reach 175 GW worth of renewable energy capacity by 2022 – 100 GW from solar energy, 10 GW from bio-power, 60 GW from wind power, and 5 GW from small hydropower plants. The target has been further increased to 450 GW by 2030. Owing to the governments’ focus on renewables and various policy decision that have been taken to help the sector grow India now ranks third in Renewable Energy Country Attractiveness Index. With thrust on renewables the sector is likely to create a large number of domestic jobs in the near future.

Solar Power

As India battles seasonal heat waves and power deficits, the role of renewable energy – especially solar energy – in meeting the energy challenges have come into sharp focus. Well before COVID-19 struck, India charted out an ambitious roadmap for solar power. Post COVID the country’s solar sector is expected to grow significantly driven by the government’s policy which has led solar PV to be the most cost competitive source of power in the region. According to Ernst & Young power generation from solar PV is expected to exceed coal before 2040.

The installed solar capacity in India grew nearly 12 per cent to 39 GW in the year 2020-21. The economic viability of solar PV and intense competition from the private sector has led to record low tariff bids in India. According to IEA’s (International Energy Agency) latest World Energy Outlook the best solar power projects are offering the “cheapest…electricity in history.”

Wind Power in India

The Union Ministry of New and Renewable Energy (MNRE) has set a target of installing 5 GW of offshore capacity by 2022 and 30 GW by 2030. The sector however has been battling with several challenges like slowing economy, low tariffs, tariff caps and curtailments, multitude of duties and tariffs. India is yet to develop its offshore wind energy that can generate 127 GW energy with its 7,600 km of coastline, according to the MNRE. 


Offshore wind energy refers to the deployment of wind farms inside the water bodies that utilize the sea winds to generate electricity. The advantages of offshore wind parks are many. Wind activity over water bodies is high, as a result offshore wind farms produce more electricity per established capacity.  Fewer offshore turbines are needed to generate the same energy potential as opposed to onshore ones. As offshore wind is more active during the daytime, it guarantees a more uniform and efficient electricity production when customer demand is at its peak. In contrast, wind power on land operates better at night when power consumption is lesser, making much more fiscal sense.

Therefore, in a country like India with abundant sunlight and other renewable sources, switching to greener energy alternatives will not benefit the environment but greatly benefit the economy as well.


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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).


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.


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.


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.


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.


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.



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


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.