Samir Ashta is chief financial officer at Apraava Energy Private Limited. He has over 36 years of experience in project finance, treasury, investment and risk analysis, accounting and taxation, and policies and compliances. He has held leadership roles at Escorts, the Max Group, ICI and Demag Cranes. In his current role at Apraava Energy, he oversees the company’s financial operations and controls, and has been leading its ESG-focused initiatives.
With respect to the green energy investment ecosystem, Ashta says, “As the world faces the challenges posed by climate change, it is essential for businesses to embrace green financing. Building a robust green energy investment ecosystem is crucial for achieving India’s net zero and sustainable development goals. As a diversified provider of low-carbon energy, Apraava Energy will continue to invest in renewable assets and low-carbon businesses. Going forward, we would like to get into the consumer-facing business starting with smart metering and then power distribution.”
According to Ashta, clean energy projects today generate a great deal of interest among investors. However, there are some financing-related challenges, including interest rates the mismatch between PPAs and loan terms, and getting an investment grade rating that encourages debt capital markets to invest in projects. As most energy PPAs are long term in nature, these assets are ideal for long-term investments, he notes. In this context, the bond markets for renewable energy need to develop better frameworks and safeguards to attract and encourage long-term investors.
Ashta cherishes the moment when he led the team to issue the first asset-specific bonds in the Indian power sector for the company’s Jhajjar power plant and the first corporate green bond issuance in the South Asian and Southeast Asian power sectors for Apraava Wind Farms. Regarding his management style, he encourages his team to always learn and be future-ready, especially in the areas of digitalisation and sustainability. He believes new jobs and roles are rapidly emerging, and the workforce needs to focus on constant upskilling to keep pace with the trends and needs of the time.
Ashta is a member of the Institute of Chartered Accountants of India and has an MBA from the Faculty of Management Studies, Delhi. He has also completed the Senior Executive Leadership Program from Harvard Business School.