Saturday, October 31, 2020

Newsbreakers

Green Hero

If there is oomph gathering in the Indian renewables market much of it owes to Rahul Munjal, Managing Director, Hero Future Energies, a part of the $ 5.6 billion Hero Group, one of the most respected industrial conglomerates in the country. The company has since diversified into renewable energy, education and electronics. Since 2012, when the Hero Group entered the renewable energy space, the company has been quick to cash in on the first mover advantage.  There is now increasing evidence of the advantage being secured with Munjal’s company recently coming up with the country's first certified 'climate bonds' for funding expansion of its wind power portfolio marking a  new opening for clean energy funding.  The certification is an assurance on green "use of proceeds" and is expected to help attract global institutional investors to fund the Indian government's thrust on creating 175 GW of renewable energy capacity by 2022.  In order to boost growth, the renewable power firm under Munjal’s leadership remains bullish on the prospects of solar and wind energy and is looking to be a leader in storage solutions for off-grid renewable power.  The company has a total installed capacity of 260 MW at present and by mid-2016 expects to reach 500 MW. Hero Future Energies with the University of Rochester graduate at its helm is also looking to tap foreign markets such as Africa.  With ambitions to add 10-14 GW a year in renewable by 2022, Hero can be expected to happily rule over the growing green space.

 

 

 

Auto Raja

Barely three months after taking over reins of his company in India Hyundai Motor India managing director YK Koo is also busy fortifying a development strategy for the future. He will be seeking to build further on the strength of aggressive product planning which will eliminate systemic gaps, raise Hyundai’s local contribution of R&D for new models, in addition to growing the company’s sales and service facilities across India’s dustbowl. All of those will be necessary to sustain the company’s growth momentum as Hyundai plans to make India the manufacturing hub for global mini SUV’s which will be under 4 metres in length. Groundwork for the new vehicle platform - a compact SUV dubbed HND-14 - is being handled by the company’s R&D centre at Hyderabad on the strength of a `700 crore investment. The company is also at a very advanced stage of negotiations for a new factory to be built at investment of `4500 crore and is in talks with states like Gujarat, Rajasthan, Andhra Pradesh and Tamil Nadu, for land and incentives. For the present to meet the growing demands of the market the company will seek to utilise the capacities of its manufacturing unit in Chennai. Koo, with his global experience in sales and marketing of world markets, will doubtless relish the challenge of expanding his firm’s already strong presence in India, Hyundai’s ‘fastest growing market’. He is no stranger to this country having served Hyundai Motor India in two earlier stints for over 9 years.  

 




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