Having worked previously for Suzlon Energy as the head of global investment activities, Chandra Sekar believes that companies that provide end-to-end solutions for the development of renewable energy infrastructure offer a unique advantage over multiple business suppliers.

He points to wind power company Suzlon as a prime example of success in the renewable energy industry, and considers that there are two major differentiating factors between this company and the remainder of the [wind] industry.

The first was that Suzlon broke the mould by providing end-to-end solutions; from identifying the site, to connecting it to the grid, to basic acquisition of the land, to manufacturing, supplying and installing the turbines, to monitoring a project.

Now CEO of IT Power, Mr Chandrasekar says that the boutique consulting company has benefitted from a similar business model.

While most Indian, European and Chinese companies are invested in what Mr Chandrasekar refers to as the last two steps of what he describes as the “Carbon value chain” – the measurement and monetisation stages – IT Power consults on all stages of renewable energy projects.

“IT Power is probably one of the few companies globally which does work along the whole value chain.”

The other differentiating factor Mr Chandrasekar cites is when Suzlon moved from individual renewable energy installations on farms and private properties to the identification of dedicated renewable energy project sites, such as wind farms, located on the windiest sites.

He says this was an example of a company changing the model in order to succeed.

“You were no longer trying to sell power to yourself; you were trying to sell power to the grid, and this resulted in a huge increase in demand for renewable energy. “You can only grow in this industry if you can change the rules of the game. If you’re going to be like 30 other companies, then you are just one among them.”

Renewable to the core

Originally founded upon principles of sustainability, Mr Chandrasekar says that IT Power’s core understanding of the renewable energy industry sets them apart from other companies that have their roots in unsustainable energy practices.

“One of the biggest advantages of this organisation is that we have probably been around the longest. A lot of the other RE companies have had roots from other places. So, to that extent, we have the ability to understand the whole growth of this industry.”

In addition to this, Mr Chandrasekar says IT Power also owes its success to its investment in a “good group of people”.

Renewable energy in India

Although India was one of the first countries to promote growth in the renewable energy industry in the 1970s, Mr Sekar says that there is still a huge opportunity for further investment.

“I think even today, India is the only country which has a dedicated renewable energy ministry,” he says.

“Today, India has about 13 gigawatts (GW) of installed renewable energy, which is much more than its nuclear capability (about 4 GW). Of this, the major component is coming from wind. We are also looking at close to 50 GW from hydro and other forms of renewable energy, which is a significant number.”

He adds that the support from the government has aided further investments in the renewable sector.

“India has identified solar and wind as the prime modes of renewable energy in India. Last year the prime minister announced that he is very keen to focus on solar because he believes India’s solar resource to be the most promising of all renewables.”

This political will has been mobilised in the form of a national solar mission, which was announced at the end of last year.

“We are looking at about 20,000 MW of grid power and about 2,000 MW of off-grid power by 2020. That’s a very significant target, especially considering that we are in the tens of megawatts today.”

Investment opportunities in Australia

Although Australia has a relatively small population compared to European countries and to India, Mr Chandrasekar suggests that investment opportunities have not been exploited to their full potential.

“ I believe that the [Australian] industry is very ripe for growth. What really surprises me is that there is a huge amount of potential, but there are not enough people to take advantage of that potential.”