'Investing in renewable energy is a low-cost way to provide power for all'

RRB Group is a leading provider of renewable energy solutions, providing custom-built turn-key systems for efficient power generation for the last 40 years. Headquartered in New Delhi, the company's strategy is based on the fundamental notion that long-term success should never come at the expense of Mother Nature. Since its inception in 1987, RRB Energy has supplied and installed over 2000 MW of wind power projects and delivered over 3000 wind turbines worldwide. Raghav Mohan Bakshi, Global Head, RRB Energy Business, in an exclusive interview with Bizz Buzz says, "Investing in renewable energy resources can also be a low-cost way to provide energy to those who do not have it."

In today's business environment, what do you do to keep up with the changes in the clean energy space?

Critical elements that are influencing the current renewable energy landscape are maintenance and operations, project reliability activities, and safety management systems. Green energy is frequently derived from renewable energy technologies such as solar energy, wind power, geothermal energy, organic matter, and hydroelectricity. Renewable energy, when properly operated and maintained, can provide massive megawatts of power, at a much lower cost than other popular energy sources. Operating renewable energy projects represents enormous potential and great business opportunities for global renewable industry participants.

What role will renewable solutions play in the future energy mix?

The primary goal of renewable energy deployment in India is to advance economic development, improve energy security, increase access to energy, and mitigate climate change. Sustainable development is possible through the use of sustainable energy and by ensuring citizens' access to affordable, reliable, sustainable, and modern energy.

Renewable energy resources are one way to reduce the carbon intensity of the energy sector, improve energy security, and promote long-term development. Investing in renewable energy resources can also be a low-cost way to provide energy to those who do not have it.

Even though India has experienced rapid and remarkable economic growth, energy remains scarce. Strong economic growth in India is increasing the demand for energy, and more energy sources are needed to meet this demand. At the same time, the country faces the challenge of sustainable development due to increasing population and environmental deterioration.

What are some of the opportunities in this space that will create a sustainable future?

The world's energy demand is currently exceeding the limits of installable generation capacity. As a result, future energy demands must be met and improved in an efficient and secure manner. Renewable energy sources should be used to support energy solutions. At the moment, renewable energy's contribution to global primary energy is insufficient to meet primary energy and electricity demands. In the coming decades, both developed and developing countries will have to rely on fossil fuels.

The situation in developing countries is more inconvenient than in developed countries. Many developing countries appear to be attempting to restructure their energy sectors. It appears that realizing innovations is difficult. The main barriers to the development of renewable energy are cost, market share, and policy.

Many countries' strategy plans include sustainable development in terms of parameters such as economic, social, and industrial development, which is supported by their energy policies. New enabling technologies related to renewable energies will also help to reduce environmental costs, allowing energy systems to operate safely and economically without causing environmental issues. New renewable energy markets, both wholesale and retail, are unquestionably required.

India has set an ambitious target of 175 GW of renewable energy capacity by the end of 2023, with a target of 500 GW by 2030. This is the largest renewable energy expansion plan in the world. India's total installed renewable energy capacity was 151.4 GW as of December 31, 2021. Sustainable marketing is a great influencer for the promotion of environmentally and socially responsible products, practices, and brand values

What do you see in the future for clean energy?

Installed renewable power generation capacity has gained pace over the past few years, posting a CAGR of 17.33 per cent between FY16-20. With the increased support of the government and improved economics, the sector has become attractive from an investor's perspective. As India looks to meet its energy demand on its own, which is expected to reach 15,820 TWh by 2040, renewable energy is set to play an important role. The government plans to establish a renewable energy capacity of 523 GW (including 73 GW from Hydro) by 2030.

Give us an overview of RRB Energy Limited and its journey?

RRB Group is a leading provider of renewable energy solutions, providing custom-built turn-key systems for efficient power generation for the last 40 years. Headquartered in New Delhi, the company's strategy is based on the fundamental notion that long-term success should never come at the expense of Mother Nature.

The company believes that businesses should establish a more sustainable future by stimulating future growth at lower prices and with fewer hazards.

'The Green Maharaja', late Rakesh Bakshi, a Padma Shri Awardee, founded the company in 1987 with the goal of leading the country in renewable energy. Since its inception in 1987, RRB Energy has supplied and installed over 2000 MW of wind power projects and delivered over 3000 wind turbines worldwide. The Company has a diverse clientele in India that includes FIIs, consortiums, government, manufacturing industries, and community owners.

Tell us about your entrepreneur journey?

After the demise of my father, it was my responsibility to help maintain the business momentum. The last six years have been a great journey with new learning and challenges. My role has been to oversee essentially every aspect of the company's operations but also to develop unique strategies to improve the family business's corporate image. My direct supervision includes functions such as improving IT procedures, improving customer service, and planning for the organization's future growth/diversification.

With the growing trend of Renewable Energy Technologies in reducing global warming and mitigating the negative effects of Climate Change in recent years, we have begun to play an active role in promoting the same as a group.

What are the services RRB Energy offers?

We are the trendsetters and a pioneer company in the field of Renewable Energy. At RRB Energy, we offer impeccable solutions built on expertise and credibility, making us one of the oldest Renewable Energy companies in India. RRB believes in providing a clean future for everyone and efficient utilization of abundantly available renewable energy sources. RRB's inventive and forward-thinking perspective has fueled revolutionary advancement in the field of renewable energy over the previous three decades.

What are some of your company's most recent notable projects, and what did they accomplish?

We have been recognized as pioneers in the production and installation of over 2000 MW of wind energy projects across the Indian subcontinent and have achieved success in delivering more than 3000 wind turbines worldwide. In India, the Company's clientele includes FIIs, consortiums, government, manufacturing industries, and community owners. That's how the company has been able to maintain its reputation providing efficient renewable energy solutions for the last 40 years.

What are your plans going forward? And Top priorities for 2022?

RRB Energy has worked with various industry partners for several years to provide specialized services in the field of renewable energy. We believe that strong partnerships with other renewable energy companies, customers, suppliers, and stakeholders who share our commitment and passion for realizing renewable energy's full potential are critical. The corporation will invest more than Rs 130 crores in new infrastructure that will include larger capacity windmills. The new facility will be outfitted with cutting-edge technology, resulting in higher megawatt electric power generation machinery. The company will continue to focus on lowering its obligations and investing in the introduction of innovative products and services in the wind power generation sector in India.