As director, business development and commercial (renewables) at Apraava Energy, Mahesh Makhija is responsible for developing the company’s renewable energy business and ensuring that its projects meet business targets. Prior to joining Apraava Energy, Makhija worked with Enercon India and Arthur Andersen & Co.
Makhija believes that the Indian power sector is evolving at a rapid pace, continually redefining the industry outlook. “The government’s focus on achieving power for all has accelerated capacity addition. We have witnessed a massive transformation in India’s renewable sector, making it a front runner in the renewable energy space. The sector’s growth is forecasted to attract investments worth $128.24 billion-$135.37 billion between 2018-19 and 2022-23,” remarks Makhija. India’s climate vision is ambitious and needs a framework that enables its timely achievement. According to Makhija, the challenges with respect to land, RoW, and state approvals continue to impact project implementation. Non-CTU connected state-level renewable energy projects continue to face financial challenges due to payment delays by many state utilities.
Talking about the company, Makhija notes that it embarked on a transformational journey with the unveiling of its new corporate identity, Apraava Energy, in October 2021. “As a step towards strengthening this growth, CDPQ and the CLP Group agreed to the sale of a 10 per cent stake in Apraava Energy by CLP to CDPQ, bringing their respective stakes in the company to 50 per cent,” says Makhija. “We also recently concluded the acquisition of 49 per cent equity of Kohima-Mariani Transmission Limited from Kalpataru Power Transmission Limited and Techno-Electric and Engineering Company Limited. The remaining 51 per cent stake will be acquired as per the terms of the transmission service agreement,” he says.
Makhija recalls his most memorable assignment as the execution of a 113 MW wind project, spread across six hills of Maharashtra. The project involved devising innovative approaches for development, construction, financing and operations. Makhija is results oriented and believes in providing flexibility and freedom to his team to achieve individual and collective results.
A qualified chartered accountant and a lawyer, Makhija also has an MBA from the Melbourne Business School. Talking about personal interests, he says he is passionate about culinary arts.