Latest news with #MaheshKolli
Mint
4 days ago
- Business
- Mint
Forging a 21st-Century Green Superpower: India's Renewables, Storage, and Hydrogen Revolution
In a no-holds-barred assessment of India's transition to green energy, Mahesh Kolli, Founder and Group President,Greenko Group, and Vishal Mehta, India Leader, Energy Practice at BCG, chart India's pathway to building a low-carbon economy and achieving energy self-reliance. Their conversation is featured in Episode 2 of the India for the World podcast by Mint and BCG, which delves into India's ambitious energy transition goals, including the pursuit of 500 GW of renewables by 2030, the promise of green hydrogen, and the critical role of energy storage. Let's start with the good news: with hundreds of gigawatts of solar and wind potential spread across the country, and a robust, unified power-grid network (the third largest in the world), India has all the ingredients to scale low-carbon energy rapidly. In 2024 alone, the country installed more than 28 GW of solar and wind capacity, the third-highest addition worldwide, cementing its place as a global leader in the energy transition. What lies ahead is the chance to redefine India's role in the global energy value chain. For India, building on this strong foundation and moving from spending $250 billion on fossil-fuel imports to becoming a global supplier of low-carbon energy calls for a three-pronged approach. Integrating almost 400 GW of intermittent renewables—solar and wind—means synchronising generation with demand. Unlike conventional sources, solar and wind output fluctuates hourly and seasonally. India already experiences a 20–30 percent gap between daily peak and baseload demand, and similar swings across the year. Balancing these variations will require a portfolio of storage solutions. Rather than betting on a single technology, India must evaluate and deploy each option for the task at hand—for example, lithium-ion batteries for short-duration balancing, pumped-hydro for medium-term storage, and emerging long-duration chemistries for seasonal shifts. Keeping a system-level target of about INR 5/kWh for renewable-energy-plus-storage costs will mark the tipping point at which coal power can give way to intermittent renewables. India's vast solar potential—and well-honed execution capabilities—has made solar the hero of its renewables story, but grid stability demands equal emphasis on other low-carbon sources. First, wind capacity must keep pace, supplying complementary generation during non-solar hours. Second, innovative nuclear technologies, such as Small Modular Reactors (SMRs), can provide the firm baseload needed for a low-carbon power system. The Indian government's new target of 100 GW of nuclear power by 2047, along with the marquee decision to involve private players, can bring the same capital, technical know-how, and execution speed that catapulted solar. While storage and new low-carbon generation underpin energy self-reliance, green hydrogen can turn India from an energy importer into an exporter. This is underpinned by India's large annual consumption of Hydrogen which exceeds six million tonnes (already larger than that of Western Europe) and offers stable demand to de-risk projects. India's deep technological and operational expertise in derivatives such as ammonia and methanol will enable faster roll-out of large-scale integrated plants. With the National Green Hydrogen Mission kickstarting India's green hydrogen revolution by bringing down the cost of domestic green hydrogen to $2-3/ kg, India stands at the cusp of a unique opportunity to not only displace $15-20 billion of LNG imports, but to also establish itself as a supplier of low-carbon molecules, ergo low-carbon energy, to regions such as Japan, Korea and Europe. To sum up, India's energy sector is poised to embody 'Local for Global,' strengthening the nation's status as an indispensable trade partner worldwide. Indian businesses and the government must act now to seize this opportunity and lay the foundation for a green "Vishwaguru Bharat'. Note to readers: This article is part of Mint's paid consumer connect Initiative. Mint assumes no editorial involvement or responsibility for errors, omissions, or content accuracy. Want to get your story featured as above? click here!
Mint
26-05-2025
- Business
- Mint
Will Renewable Energy Make India a Global Powerhouse? India for The World
Updated: 26 May 2025, 12:44 PM IST Livemint In this episode of 'India for the World Podcast by Mint and BCG,' we explore India's ambitious energy transition goals. Join host Nehal Chaliawala, as he discusses renewable energy, green hydrogen, and storage solutions with Mahesh Kolli, Founder and Group President - Greenko Group, and Vishal Mehta, Leader for Energy Practice - Boston Consulting Group in India. Discover India's vision of becoming a global powerhouse in green energy, the challenges of achieving 500 gigawatts of renewable energy by 2030, and the role of green hydrogen in transforming India's energy market. Copyright © 2025 HT Digital Streams Ltd All Right Reserved
Bloomberg
16-05-2025
- Business
- Bloomberg
India's Greenko Founders Eye New Deal to Buy Stake From Orix
The founders of Indian clean energy producer Greenko Energy Holdings are still working on purchasing Orix Corp. 's stake in the company, despite the Japanese financial group's announcement cancelling the sale, said people familiar with the matter. Anil Chalamalasetty and Mahesh Kolli, co-founders of Greenko, are tweaking the deal structure to pave the way for the acquisition to proceed, said the people who declined to be named discussing confidential matters. Singapore's sovereign wealth fund GIC Pte. is the largest owner of Greenko with a 58% stake, according to Bloomberg Intelligence.
Korea Herald
17-04-2025
- Business
- Korea Herald
Rio Tinto and AMG Metals & Materials to assess low-carbon aluminium project in India
LONDON, April 17, 2025 /PRNewswire/ -- Rio Tinto and AMG Metals & Materials (AMG M&M), an energy transition solutions provider, have signed a Memorandum of Understanding (MOU) to jointly assess the feasibility of developing an integrated low-carbon aluminium project powered by renewable energy in India. AMG M&M is promoted by the two founders of Greenko and AM Green. Together, the parties will consider the potential development of up to a 1 million tonnes per annum (Mtpa) primary aluminium smelter and 2 Mtpa of alumina production, both powered by renewable wind and solar energy firmed by pumped hydro storage. The development will comprise a study to evaluate a potential first phase 500,000 tonnes per annum primary aluminium smelter in a favourable location in India. Rio Tinto Aluminium Chief Executive Jérôme Pécresse said: "This study is an important step in our ambition to grow our global, low-carbon aluminium footprint while exploring new project delivery approaches and opportunities in emerging markets. Partnering with AMG Metals & Materials enables us to assess how we can develop low-cost responsible aluminium production powered by renewable energy. With its rapid economic growth and strategic position, India is a compelling location for this potential project and aligns with our long-term vision for a globally more diverse and resilient aluminium business." As part of the study, AMG M&M will examine a firmed renewable energy solution with Greenko, while Rio Tinto will explore a commercial alumina solution. The study will also assess smelting technology options to determine the most cost-effective solution for the project. Group President of AMG Metals & Materials and Greenko Mahesh Kolli said: "Over the last few years, we have been able to deliver a multitude of decarbonization solutions comprising electricity, molecules, chemicals and fuels. We are excited to expand that further to the materials space. This MOU could deliver much needed low-carbon metal at scale to propel decarbonization initiatives in global supply chains across auto, construction, consumer packaging and many more segments." About AMG Metals & Materials AMG Metals & Materials is incorporated by Anil Chalamalasetty and Mahesh Kolli, the founders of Greenko Group, one of India's leading energy transition solutions providers, and AM Green, a global decarbonization solution provider. Greenko has a near-term operational renewable energy capacity of 10 GW across solar, wind and hydro and is building 100 GWh of single cycle storage capacity across India. AM Green is developing low-carbon ammonia projects across multiple locations in India with a goal to reach 5 Mtpa of green ammonia capacity by 2030. Its first plant currently under construction in Kakinada with a projected capacity of 1 Mtpa of green ammonia will be one of the world's largest RFNBO compliant green ammonia facilities, supporting efforts to achieve net zero targets both in India and OECD markets. AM Green is also developing production capabilities for other net zero molecules and chemicals including green caustic soda, e-methanol, olefins & biofuels for decarbonization in hard to abate industries. Further information at
Yahoo
17-04-2025
- Business
- Yahoo
Rio Tinto and AMG Metals & Materials to assess low-carbon aluminium project in India
LONDON, April 17, 2025--(BUSINESS WIRE)--Rio Tinto and AMG Metals & Materials (AMG M&M), an energy transition solutions provider, have signed a Memorandum of Understanding (MOU) to jointly assess the feasibility of developing an integrated low-carbon aluminium project powered by renewable energy in India. AMG M&M is promoted by the two founders of Greenko and AM Green. Together, the parties will consider the potential development of up to a 1 million tonnes per annum (Mtpa) primary aluminium smelter and 2 Mtpa of alumina production, both powered by renewable wind and solar energy firmed by pumped hydro storage. The development will comprise a study to evaluate a potential first phase 500,000 tonnes per annum primary aluminium smelter in a favourable location in India. Rio Tinto Aluminium Chief Executive Jérôme Pécresse said: "This study is an important step in our ambition to grow our global, low-carbon aluminium footprint while exploring new project delivery approaches and opportunities in emerging markets. Partnering with AMG Metals & Materials enables us to assess how we can develop low-cost responsible aluminium production powered by renewable energy. With its rapid economic growth and strategic position, India is a compelling location for this potential project and aligns with our long-term vision for a globally more diverse and resilient aluminium business." As part of the study, AMG M&M will examine a firmed renewable energy solution with Greenko, while Rio Tinto will explore a commercial alumina solution. The study will also assess smelting technology options to determine the most cost-effective solution for the project. Group President of AMG Metals & Materials and Greenko Mahesh Kolli said: "Over the last few years, we have been able to deliver a multitude of decarbonization solutions comprising electricity, molecules, chemicals and fuels. We are excited to expand that further to the materials space. This MOU could deliver much needed low-carbon metal at scale to propel decarbonization initiatives in global supply chains across auto, construction, consumer packaging and many more segments." About AMG Metals & Materials AMG Metals & Materials is incorporated by Anil Chalamalasetty and Mahesh Kolli, the founders of Greenko Group, one of India's leading energy transition solutions providers, and AM Green, a global decarbonization solution provider. Greenko has a near-term operational renewable energy capacity of 10 GW across solar, wind and hydro and is building 100 GWh of single cycle storage capacity across India. AM Green is developing low-carbon ammonia projects across multiple locations in India with a goal to reach 5 Mtpa of green ammonia capacity by 2030. Its first plant currently under construction in Kakinada with a projected capacity of 1 Mtpa of green ammonia will be one of the world's largest RFNBO compliant green ammonia facilities, supporting efforts to achieve net zero targets both in India and OECD markets. AM Green is also developing production capabilities for other net zero molecules and chemicals including green caustic soda, e-methanol, olefins & biofuels for decarbonization in hard to abate industries. Further information at
