Latest news with #VishalMehta
Mint
6 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!
Fashion Network
6 days ago
- Business
- Fashion Network
Infibeam Avenues Q4 net profit rises 20 percent to Rs 55 crore
B2B payments firm Infibeam Avenues posted a 20 percent increase in consolidated net profit to Rs 55 crore for the March quarter, as against Rs 47 crore in the year-ago period. The company's revenue for the quarter grew 62 percent year-on-year to Rs 1,160 crore. For the full financial year, consolidated net profit rose 51 percent to Rs 236 crore while consolidated revenue grew to Rs 3,992 crore from Rs 3,150 crore in the previous year. The payments segment, which includes the CCAvenue payment gateway and other related services, remained the primary revenue driver, contributing over Rs 3,786 crore to the full-year top line. The e-commerce platform business added another Rs 20 crore to revenue. Commenting on the results, Vishal Mehta, chairman managing director of Infibeam in a statement said, 'Our continued expansion in the Middle East and our foray into the AI space with new, transformative offerings are setting the stage for the next phase of growth. As part of this vision, we plan to invest up to USD 100 million over the next three years in advancing our AI capabilities—from intelligent payment solutions to next-generation infrastructure.'
Zawya
20-05-2025
- Business
- Zawya
Ardee set for sales launch of 523-unit Fairmont Residences project in RAK
UAE-based Ardee Developments has announced the launch of sales of its key project Fairmont Residences Al Marjan Island, its highly anticipated branded residential offering in partnership with Fairmont Hotels & Resorts, from June 1. The expressions of interests for the project kicked off last week, marking a major milestone in the evolution of Ardee Al Marjan Island, the company's flagship, multi-billion-dirham development set to redefine coastal living in Ras Al Khaimah. Fairmont Residences Al Marjan Island will comprise 523 upscale residences - including apartments, townhouses, and sea villas - ranging from one- to six-bedrooms and spanning 86 sq m to over 300 sq m. The Emirati group said each and every home is thoughtfully designed to embody refined beachfront living, with ninterrupted sea views and elegant interiors that reflect timeless sophistication. Bringing together the prestige of the Fairmont brand with the ease of resort-style living, residents will enjoy exclusive access to a private beach, the Fairmont Fit Fitness Centre, and Studio, family & kids pool, adults sky pool & terrace & bar, dedicated boardroom and private dining room. They will also get access to resident's owners lounge along with other wellness facilities including treatment rooms, screening room, games room, kids club and seamless connectivity to the adjacent Fairmont resort, stated the developer. In addition, residents will enjoy exclusive access to the Accor Owner Benefits Program. This includes Diamond status in the Accor Live Limitless (ALL) programme, the ability to gift Gold status to family and friends, and VIP privileges at over 5,700 hotels and resorts around the world. Further enriching the offering is a tailored suite of à la carte services. From in-home catering and private chef experiences to childcare, dog walking, housekeeping, personal concierge support, and a home maintenance program while residents are away, every element is designed to simplify and enhance everyday living, it added. Ardee Developments CEO Vishal Mehta said: "As we prepare to open sales of Fairmont Residences Al Marjan Island this June, we are proud to invite buyers into a community that reflects excellence at every level. In partnership with Al Marjan Island, Fairmont Hotels, and Christie's International Real Estate, we are shaping a new era of luxury coastal living in Ras Al Khaimah - one defined by world-class design, hospitality, and lifestyle, brought together in a truly integrated destination." To support global sales efforts, Ardee Developments has appointed Christie's International Real Estate Ras Al Khaimah as the exclusive master agency. Christie's will lead GCC and international outreach and client servicing, ensuring a seamless buyer journey. "This is a vibrant and integrated coastal lifestyle community that combines natural beauty, unparalleled hospitality and leisure not seen in the area before," remarked Jackie Johns and Dinesh Chhatwani, Managing Partners at Christie's International Real Estate Ras Al Khaimah. "Ras Al Khaimah's momentum as a global hospitality and investment hub, and its rapidly growing real estate market, makes it the ideal launchpad for Ardee Developments to execute its grand vision," they stated. With prices starting from AED2.49 million, Fairmont Residences Al Marjan Island offers an exclusive opportunity for discerning buyers seeking long-term value, effortless luxury, and a lifestyle defined by exceptional quality in one of the region's most iconic coastal destinations. Key components of the masterplan include branded and serviced residences, private villas, townhouses, a flagship luxury hotel, and a vibrant retail and F&B promenade, said Mehta. The destination will also feature a variety of curated lifestyle offerings - from wellness hubs and gaming lounges to family entertainment zones and waterfront experiences - all designed to create a future-ready, immersive community, he added. Prioritizing walkability, nature access, and sea connectivity, the project will boast expansive green spaces, direct beach access, and panoramic views, setting a new standard for contemporary island living in Ras Al Khaimah. Beyond the residences, guests were given an exclusive look at the next phase of the Ardee Al Marjan Island masterplan. The development is progressing into a fully integrated coastal destination that blends residences, hospitality, leisure, retail, and entertainment on an unprecedented scale, said the developer. Upon completion, Ardee Al Marjan Island will be the largest and most ambitious development of its kind on Al Marjan Island spanning over 2.5 million sq ft area.- TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Arabian Business
15-05-2025
- Business
- Arabian Business
Ras Al Khaimah real estate: Fairmont Residences Al Marjan Island sales to open on June 1 with $680,000 branded properties
Ras Al Khaimah real estate investors will be able to buy properties in Fairmont Residences Al Marjan Island from June 1. Ardee Developments announced the launch of sales for the branded residential offering in partnership with Fairmont Hotels and Resorts. Sales will commence on June 1, with expression of interest now launched. Prices start from AED2.49m ($678,000). Fairmont Residences Al Marjan Island in Ras Al Khaimah Fairmont Residences Al Marjan Island will comprise 523 upscale residences, including apartments, townhouses, and sea villas, ranging from one to six bedrooms and spanning 86 m² to more than 300 m². The Fairmont branded residences will include amenities such as: Access to a private beach Fairmont Fit Fitness Centre and Studio Family and kids pool Adults sky pool Terrace & bar Dedicated boardroom Private dining room Resident's owners lounge Wellness treatment rooms Screening room Games room Kids' club In-home catering Private chef experiences Childcare Dog walking Housekeeping, Personal concierge support Home maintenance program In addition, residents will enjoy exclusive access to the Accor Owner Benefits Program. This includes Diamond status in the Accor Live Limitless (ALL) programme, the ability to gift Gold status to family and friends, and VIP privileges at over 5,700 hotels and resorts around the world. Vishal Mehta, CEO of Ardee Developments, said: 'As we prepare to open sales of Fairmont Residences Al Marjan Island this June, we are proud to invite buyers into a community that reflects excellence at every level'.
Mint
12-05-2025
- Business
- Mint
When serendipity helps build a strong career
Serendipity played a major role in Vishal Mehta's life. In 1999, after having worked for four years in the telecom sector in India, he decided to do an MBA from Stephen M. Ross School of Business at the University of Michigan in the United States. When he began studying for his degree, he had a clear vision: to either make a professional shift into the consultancy space or continue in the telecom sector. This was the time that India's privatization story had just about started, and many new private ventures were being set up across sectors including financial services, telecom, education and healthcare. Up until that time, most of these services and their delivery was dominated by government run and controlled institutions. Vishal's job in the telecom space in India was a direct result of this privatization story where he also very quickly realized that most of these new ventures were being set up for the higher income segment in India and for the masses the life wasn't really changing much. This realization of non-inclusive growth that he was witnessing was buried somewhere down in his priorities and did not get exposed until he got to University of Michigan. Also read: Is early retirement a good idea? Not for your health But when he began his studies at the University of Michigan, he took a course that would, quite literally, change his life. The course was taught by C.K. Prahalad, then one of the world's most visionary management thinkers. Prahalad had been teaching at Michigan Ross since 1981, but his influence grew in 2004 when he co-authored a book, titled The Fortune at the Bottom of the Pyramid. The book galvanized how multinational corporations (MNCs) across the world looked at dealing with the poorest consumers. In itself, 'bottom of the pyramid' was not a new concept. It had first been used by the US President, Franklin D. Roosevelt, in 1932, when he talked about poor people who were often forgotten, because they lived at the bottom of the economic pyramid. This demographic segment, argued Prahalad, was actually a profitable consumer base. As he explained, ' . . . typical pictures of poverty mask the fact that the very poor represent resilient entrepreneurs and value-conscious consumers.' In his opinion, what was needed was a better, more empathetic approach to help the very poor—one that involved partnering with them to drive innovation and to create sustainable scenarios where they remained actively engaged while companies profitably provided products and services. Prahalad wrote: 'Such an approach exists and has, in several instances, gone well past the idea stage as private enterprises, both large and small, have begun to successfully build markets at the bottom of the pyramid (BOP) as a way of eradicating poverty.' This would mean that a formula would have to be created to achieve optimum results. Prahalad devised a 'low price, low margin, high volume' model; products could be offered at very low prices and margins, to generate profits simply by selling in enormous quantities. This model changed management strategies almost permanently. In India, the greatest example was Hindustan Unilever's success in selling the Wheel brand of detergent to low-income consumers in India. Also read: The secret of success? Energy management Prahalad wasn't a very flamboyant speaker. There were no antics on stage, and he spoke with almost no expressiveness or voice modulation. But when he did speak, it always left a profound impact on those who were listening to him. This was exactly the effect on Vishal. This resonated with the lack of inclusive growth he had witnessed in his stint at private sector in India. It was perhaps serendipitous that at this same moment, he met Dr Aravind, then his senior at Michigan Ross. Aravind is the grandson of Dr Govindappa Venkataswamy, founder and former chairman of Aravind Eye Care chain of hospitals, and was involved with the hospital chain, focused on addressing the needs of low and middle-income people in India. As Vishal spent time with Aravind, he began to think along the lines of what he had heard Prahalad discuss in class. One of the first opportunities to test these ideas was the possibility of replicating Aravind Eye Care's model in Africa as part of one of his elective courses during his MBA. It was the first time that Vishal was thinking actively of a business model where profit maximization was not the objective, and where shareholder value was seen in a very different way. His experiences convinced Vishal that his interests lay not in the telecom sector as he had once thought, but in the social sector. But practicality intervened. He had to still pay off his student loans, so for the next couple of years, Vishal worked at Capital One, a consulting firm in Washington DC. Then, he began to actively scout for new opportunities in the social space. Almost a year passed. Unfortunately, the traditional non-profit sector was looking for vintage and sector expertise—the one thing that Vishal lacked, since he was from a fairly commercial mainstream business background. As nearly every opportunity hit a dead end, once again, serendipity took the wheel. Also read: The power of hitting pause during a workday It was around this time that Rajiv Lall moved to New York. Lall was then a managing partner at Warburg Pincus, one of the world's largest private equity firms. Lall wanted to use the same principle of venture capital for socially relevant businesses. He wanted to put his significant experience in investment to use in India. Naturally, then, he was looking for someone who would be able to drive this cause forward and be based out of India. Rajiv heard about Vishal from a common acquaintance. He liked what he heard and gave Vishal a cold call, which reached his voice mail. As he listened to Lall's voice message, Vishal quickly did some preliminary research on Warburg Pincus, as he was totally unaware of the private equity industry. Soon, the two set up a meeting over coffee. It was serendipity once more. After a three-hour long meeting, Vishal was ready to move back to India and get to work (on almost a quarter of the salary he was earning) to build Lall's vision. The two men had even come up with a name: Lok Capital. Delighted, Lall asked him to discuss matters with his wife before making any kind of firm commitment. Vishal laughed and said, 'I will discuss it with her, but I'm making this commitment to you: I will move to India!' Excerpted with permission from Penguin Random House India. The book will be published later this month. Write to us at lounge@ Also read:
