Ankur Kumar has over 24 years of extensive experience in sectors such as renewable energy and public infrastructure. He currently serves as chief executive officer of the renewables business at Essar Power. In line with Essar’s vision of transitioning to green energy, Kumar collaborates closely with the Essar Power Board and Leadership Teams to develop the renewable energy ecosystem.
Prior to this, as chief executive officer at ACME Solar Holdings Private Limited, he managed the strategic expansion of the company from traditional renewables to green hydrogen and ammonia, while also broadening its geographic reach.
Kumar notes that the Indian power sector has witnessed significant growth, adding 194,394 MW of generation capacity in the past nine years, transitioning from power deficiency to sufficiency. With the installed capacity at 416 GW as of March 2023 and over 40 per cent of it being based on renewable sources such as solar and wind, India is advancing towards a greener energy future. To sustain the growth momentum, it is crucial to enhance investment attractiveness, refine regulations and strengthen sector institutions, Kumar believes. By prioritising efficiency, equity and sustainability, the government and regulators can ensure effective planning and oversight, driving continued progress in the power sector.
According to Kumar, the power sector is grappling with significant challenges, including NPAs stemming from coal reliance, fluctuating fuel prices and stagnant tariffs hindering debt repayment. Furthermore, delays in land acquisition and bureaucratic processes inflate project costs, while policy uncertainties deter investments in renewables. Compounding these challenges is the shortage of skilled workers, alongside escalating cybersecurity threats.
Essar Power is venturing into environmentally sustainable areas, including the exploration of alternative fuel sources and coal gasification, thereby aligning its operations with the country’s clean energy goals. Additionally, the company plans to make substantial investments in solar, wind and energy storage systems over the next five years, with a significant portion being allocated to green hydrogen and its derivatives.
Kumar’s management style reflects a blend of strategic vision and proactive leadership. He has a forward-thinking approach and likes to explore innovative solutions and emerging opportunities. His ability to navigate complexities and drive initiatives highlights his adaptability and resilience.