Latest News, Videos and Photos about Ratul Puri
The energy crisis in India can be experienced first-hand when frequent power cuts ruin your day. Thankfully, a young player in the power sector: Hindustan Powerprojects Private Limited (HPPL) is working hard to solve this problem. To put a cherry on the cake, HPPL is focusing on a cleaner and greener alternative to the exhaustible energy resources. Solar power is the future of India’s energy need.
The driving force behind this environment-friendly movement is no other than the HPPL chairman- Ratul Puri. An alumnus of Carnegie Mellon University, Ratul Puri is a valued member of many think factories that are devising renewable strategies to meet the energy demand. He has won a number of accolades including Ernst and Young’s Entrepreneur of the Year and CMO Asia’s CEO of the Year. The World Economic Forum features him as an agenda contributor where he represents India’s growing entrepreneurialism.
Ratul Puri – Man Behind Hindustan Power Projects
According to Mr. Puri, long-term power projects need multi-faceted diligence before their commencement. To reflect this point, an investment of Rs 17,000 Crore will be made in Madhya Pradesh to overcome its power shortage by 2020. Recently, HPPL’s renewable energy department, Hindustan Clean Energy limited (HCEL) raised $130 million from US financers- Farallon Capital Management and Bank of America Merril Lynch. Under the leadership of Ratul Puri, this amount will fund new projects and pay existing loans used on previous undertakings.
His in-depth knowledge in this domain has helped in the creation of India’s energy roadmap. By 2020, a staggering 5000 MW of power through hydro, thermal and solar plants shall be commissioned. HPPL has successfully armed the first phase of this plan through Anuppur’s thermal project. The setup for second Phase of 1,320 MW is almost ready and can be taken to construction within three months. The project has direct connectivity to the National Grid and is commissioned close to coal source. The company has already entered a Power Purchase Agreement (PPA) with Madhya Pradesh and Uttar Pradesh for supply of power. “The company may look for options like equity infusion if need arises,” Ratul Puri said. As explained by Mr. Puri, capacity utilization of renewable is about 20 per cent, so adding 175 GW will take renewable’ share to 35 GW in overall energy mix of 350-400 GW. 5000 MW of Solar power is also in the works. HPPL has established two hydro project plants in Himachal Pradesh that offer 520 MW of inexhaustible energy.
Hindustan Power is likely to come out with an Initial Public Offer (IPO) next year. “Sometime in 2017 depending upon our capital need, we may look at an initial public offer,” Hindustan Power Chairman Ratul Puri told reporters here. Ratul Puri’s focus on solar energy will be impactful in the Indian power sector. India is currently ranked third in a list of countries with the best renewable energy management. Exponential growth in this field will pull a lot of competition. Ratul Puri is successfully pushing India towards an energy revolution which will benefit India in the long run. India’s terribly polluted air and water sources need repair. HCEL will facilitate a cleaner environment and promote eco-friendly practices among the corporations.
Ratul Puri’s concern for social responsibilities is commendable. He states:
“In all infrastructure projects, there is a significant connect with the people hence it is very important to understand the needs of the society, especially areas in and around the projects”
His risk-minimized approach proves he is an all-rounder when it comes to business.
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