India’s leading renewable energy solutions provider, Artha Energy Resources (AER) present across nine states, the company has a significant portfolio spanning across Solar & Wind sectors. AER focusses on providing EPC services and financing options to the commercial & industrial segment for onsite solar plants and has been a long-standing partner to brands across sectors. Led by Animesh A Damani, a fourth-generation entrepreneur, Artha Energy has a vast network of professionals and path-breaking analytical solutions. While talking with Nitisha from BISinfotech; Animesh Damani, Managing Partner, Artha Energy Resources talks about green energy investments in India.
Kindly explain Artha Energy Resources and its special offerings.
Artha Energy Resources was established in 2013 with the intent to drive green energy investments in India. Today, we have grown to become a leading renewable energy solutions provider in India and have a strong consulting arm. We have completed over 250MW of projects across Hydro, Solar, Wind, and Bio-mass and Bio-gas through project consultancy and development.
Our focus is on project development, which is supplemented by our in-house EPC and financing divisions. Our solutions include both offsite and onsite solar projects, owner’s engineer services and a robust investment bank. As a consultant, we act as an enabler for EPCs, developers and technology partners for projects in the renewable energy space. We are present across 9 states and have a portfolio spanning solar, wind and hydro sectors.
How does Artha Energy define itself different from other renewable companies?
Our strength lies in our vast network of experienced professionals, path breaking analytical solutions, and a quick turnaround time on all our projects. One of our key differentiators lies in our intelligence on over 90% renewable assets in the country.
What kind of challenges industry is facing after pandemic and what will be the future plans for handling such issues?
As an industry, we faced challenges similar to other sectors during the pandemic. With projects requiring manpower, it was one of the biggest hurdles to overcome, along with the economic repercussions. The lack of strong policies and regulations to aid the sector was another deterrent, with the rooftop solar sector seeing the maximum policy flip-flop in the pandemic, which in-turn bred uncertainty and affected growth. The MSMEs were and are the most affected, putting ongoing and upcoming projects in jeopardy. Another major factor has been the rapid inflation in commodities and solar modules that have resulted in project costs increasing by 15-20% on average. However, the RE sector, especially rooftop solar, has witnessed significant growth in the first half of 2021. In fact, as per IEA, India is expected to be the biggest contributor to the growth of renewables globally. This is a clear showcase of the strength of RE as a priority sector for economic growth. What we need are clear guidelines and visible show of support from the government going forward. If similar issues arise, a holistic policy framework can tide the sector through the challenges.
What future growth prospect you expect from the Indian renewable energy market?
The potential for renewable energy in India is huge. We, as a country, have demarcated high targets for Renewable Energy. To achieve the same, we need to maintain the momentum that we have been seeing recently, along with favourable policies that provide the desired push for RE as the desired resource for energy generation. The awareness among consumers is also increasing and both the residential and commercial segments are opening up to RE, given the financial and environmental benefits that it provides. What we need is a more robust framework that can aid the growth of the industry as a whole, and propel it to the forefront of energy conversations.
According to you, which solar-centric state has the best (or progressive) net metering policies?
Currently, Maharashtra has the right approach to net metering. They have announced a policy that allows rooftop solar to grow upto 2 GW, which will ensure that consumers are able to take the benefit of the existing policy. After the 2 GW of capacity is reached, the state plans to levy grid-support charges (on rooftop solar projects). If these grid-support charges are applied on exported units and reflect the real cost implications for the DISCOM, it would be the right decision taken by the state government.