Vikram Aggarwal is managing director of Virtuaal Infra Power Private Limited, a company dedicated to developing small-hydroelectric projects (HEPs) in the country. In this role, Aggarwal spearheads the development of the company’s upcoming HEPs in Arunachal Pradesh – the 23 MW Keyi HEP and the 14.50 MW Pareng HEP – which are expected to be commissioned in 2019.
Besides this, he is also responsible for managing the acquisition activities of the company, with 300 MW of capacity addition being planned by 2018 through the acquisition of HEPs at the pre-development stage across Aruna-chal Pradesh, Himachal Pradesh and Uttarakhand.
Commenting on his motivation to join the renewable energy sector, Aggarwal says that power generation from renewable sources is involving, engrossing and creative, aside from being lucrative. He believes that with concerted efforts in coordination, negotiation and execution, the turnaround of the currently under-utilised hydropower segment is achievable. Given the environment-friendly nature of hydropower and its availability at competitive prices, around 1 GW of hydropower capacity needs to be developed quickly in order to meet the power demand expected in the future, he adds.
On the key trends in the hydropower segment, Aggarwal observes, “The hydropower segment lacks access to finance, which is deterring growth in the segment. The authorities must realise that water as a resource is getting wasted in the country. Apart from hydropower, we are forfeiting additional benefits, including the development of agriculture and water transport, as well as flood management. In the next three to five years, the hydropower segment is expected to see massive investments.”
Aggarwal is a commerce graduate from DAV College, Dehradun. His family includes his wife and their two children.
In his spare time, Aggarwal likes to play sports, squash being his favourite. He also enjoys cooking and travelling. Aggarwal is a voracious reader and enjoys reading newspapers, magazines, novels and books on finance, management, history and religion. His latest read was Atlas Shrugged by Ayn Rand. In the future, he hopes to write extensively, especially articles on finance and management.
Vikram Aggarwal is Managing Director, Virtuaal Infra Power Private Limited.