Archana Bhatnagar has over 35 years of experience in the finance and energy sectors. As director of project and market development for South Asia at Wärtsilä Energy currently, she plays a pivotal role in driving the company’s vision and accelerating India’s energy transition. Her responsibilities range from originating projects and deal structuring to asset management and co-developing and supporting project financing. India is aiming for net zero by 2070 and targeting 500 GW of non-fossil fuel capacity by 2030, she notes. Despite being the third-largest electricity producer, the per capita consumption is below the global average, leaving room for growth. Government initiatives support renewable energy, but flexible generation capacity needs attention. Wärtsilä’s gas-based power plants offer a quick response to balance renewable energy fluctuations, contributing to a renewable-powered future, she notes.
“India is aiming for significant renewable energy capacity additions. However, integrating intermittent renewables with rigid baseload plants poses challenges such as grid instability and curtailment risks,” Bhatnagar says. There is a need for transmission planning, demand management, storage tech and increased flexible generation to ensure a smooth transition to a sustainable energy future. Flexible gas engine capacity and energy storage are vital to prevent renewable energy curtailment and maintain grid stability. Wärtsilä has delivered nearly 4 GW across 250+ power plants. The company’s gas-based engine plants can already operate with 25 per cent hydrogen blend and other sustainable fuels, aligning with the government’s decarbonisation goals.
“My tenure at Wärtsilä has been very exciting, working in various roles during my continuing innings of 30 years. But I must say that in my present capacity, focusing on project and market development, analysing power markets across diverse countries, comprehending their distinctive characteristics, and crafting compelling value propositions amidst the dynamic energy transition landscape are extremely gratifying,” she says.
Bhatnagar gives high priority to team cohesion and empowers team members to independently perform their duties while she focuses on removing obstacles and fostering an environment conducive to collective success. “Open communication, transparency and constructive dialogue are paramount values that I uphold. I believe in fostering a culture of mutual respect and continuous improvement within the team,” she adds.