Director, Kundan Green Energy
Apurve Goel serves as director at Kundan Green Energy, a wholly-owned subsidiary of the Kundan Group. In this role, he oversees project execution, tender processes as well as obtaining of regulatory approvals and clearances.
Commenting on the sector, Goel says, “As we conclude calendar year 2023, India ranks firmly as the world’s third largest energy consuming country in the world. Its consolidated renewable energy capacity is a little more than 177 GW – the fourth largest globally. Of this, 47 GW is accounted for by hydropower. Notably, of the 17 GW of energy added in 2023, as much as 92 per cent came from renewables as a whole. We are also encouraged by the fact that not only has renewable energy continued to dominate the capacity addition in calendar year 2023, but also because small-hydro power is coming into its element.”
While he is upbeat about the hydropower segment, he believes this area has been neglected of late and needs more attention. Hydro capacity addition in India has been highly inadequate as compared to countries such as China. “Hydropower is the only energy source that is available round the clock unlike solar and wind. Power demand in India is increasing by 15 GW every year, which makes it crucial for us to increase our hydropower capacity to meet the soaring energy demand,” he says.
Goel highlights several issues plaguing the industry. According to him, the hydropower sector faces several challenges owing to the water cess imposed by state governments, resulting in an added financial burden. Moreover, the delays in land clearances, land transfer and power procurement by state governments make it a challenging process for project developers. Another issue faced by the segment is the lack of access to power transmission infrastructure facilities in the vicinity of the project, he notes.
Goel also points to the growing challenge of waste management in renewable energy resources, with solar and wind energy exhibiting a higher degree of equipment depreciation-related waste compared to hydro.
Goel has had many memorable moments during the course of his career. One of the notable achievements has been the recent signing of a memorandum of understanding with the state government of Uttarakhand, securing a substantial Rs 10 billion investment for 80 MW of hydropower projects in the state.