“Market size for renewable energy techno-commercial consulting is more than 1000 crores” - Indrajeet Dudile, Agneya Carbon Ventures

By Team YS|2nd Aug 2011
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Agneya
Pune based Agneya Carbon Ventures is enabling organizations to reduce their carbon footprints. It’s only natural that such an effort is need of the hour, given the rate at which the ‘green’ is turning into black, brown and fumes! Swati Maheshwari for YourStory.in caught up with entrepreneur Indrajeet Dudile, one of the four co-founders of Agneya, to find out more about their business idea.

Tell us about Agneya Carbon Ventures.

Agneya Carbon Ventures provides focused management consulting in the fields of renewable energy, carbon advisory, sustainability strategy and reporting. Agneya was founded by Kedar Deshpande, Anshumaan Bhatnagar, Rahul Dasari and me. While Kedar is from IIM Bangalore, the rest of us are IIM Ahemdabad alumni. As a team, Agneya has worked on first-in-sector projects in carbon credits, renewable energy, carbon foot printing and carbon disclosure, across real estate, infrastructure, pharmaceutical and process sectors. We handle renewable energy projects right from feasibility study to project management and carbon advisory. We also have experience in executing Clean Development Mechanism projects across technologies such as wind, biomass, bio-methanation and energy efficiency.

Very Interesting. Tell us more about Carbon Accounting Advisory.

Every organization consumes electricity, fossil fuels, raw materials, etc for their day to day operations like manufacturing, travel, logistics, marketing, waste disposal, etc. Each of these activities directly or indirectly releases green house gases into the atmosphere, which is the primary reason for global warming and climatic changes. Carbon Accounting is the process by which we measure the amount of carbon dioxide equivalent gases(in tons) that has been released by an organization monthly/annually. We work with clients in establishing carbon accounting systems as per ISO norms and then consult them on how they can reduce and optimize their carbon emissions.

What is the impact of Agneya Carbon Ventures?

Agneya
Natural resources like fossil fuels, water, metals etc are getting scarcer with every passing day. This is putting a huge stress on organization’s financials and exposing them to business risks in terms of resource availability and costs. We are helping firms to mitigate these risks by getting into sustainable practices. At the same time energy, water and waste management is a matter of concern for our cities and villages as well. The rate at which urbanization is growing and utility services are ramping up is not good. On the other hand, rural areas have problems of accessibility which makes costs of these services high. We are trying to address these issues.

 

What is the size of the market being addressed?

Market size for renewable energy techno-commercial consulting is more than 1000 crores(USD 200 million). To meet the targets envisaged under the NAPCC, India would need additional renewable energy installations of 4000MW per annum. This translates to an investment of around 20,000 crores conservatively. A 5% value from this as advisory fees towards project management gives a market size of 1000 crores per annum.

Tell us a little about your clients.

Our clients are entities who want to invest in renewable energy projects, entities that already have environment friendly projects. We help them get better returns by enabling them to structure their sales, trading their carbon emissions and getting them certified (which enhances their brand equity). We work with entities that want to reduce their energy consumption, account and reduce their carbon and water footprint and manage their waste. We help organizations that want to develop and implement a sustainability road-map and report it as per globally recognized norms like global reporting initiatives.

What are your thoughts on sustainable living? What do you suggest is the way forward?

If the rate at which we consume resources is much higher than the rate at which they get replenished, with time being the base factor, then we are getting into unsustainable practices. We all are aware about the status of coal, petroleum and metals. Their prices are soaring and supply is intermittent. In the years to come, the renewable resources of today like water, soil etc are going to become scarce due to the current social and business practices. For example, as per government reports, 30% of agricultural land is becoming unsuitable for crop cultivation due to overuse of fertilizers and chemicals (especially in Punjab, UP and Maharashtra). India is going to have scarcity of water by 2030. We need to modify the way we live and conduct business. We need a transition into a low carbon economy where the utilization of natural resources is much higher. Currently, sustainability is taken as a good to do activity. But many progressive companies like the TATA group, ITC, L&T etc. are using it to enhance their profits and mitigate their risks. That’s the way forward.

Tell us about some of the milestones you have achieved at Agneya Carbon Ventures.

We have done some first of its kind carbon accounting projects in auto, aviation, infra and steel sector. We are working with some leading corporate houses like Mahindra Group, GVK Group, Mumbai International Airport and Reliance Power. Gradually, we are expanding our footprints to other states(Karnataka, TN & AP) as well.

How did you acquire capital to startup?

Bootstrapping! All four of us worked in the industry(in different sectors & functions) for quite some time. In the process we planned and saved the required amount of money to start a venture and take care of ourselves. Currently, the business is profitable and we are able to cover our expenses.

What is your vision for Agneya Carbon Ventures?

In the long run, we want to be a strong force in the area of natural resource utilization. We want to play a role in helping organizations and society transcend into a low carbon and resource efficient future.

Share with us your expansion plans.

Currently, most of our projects are in the West India. We already have a presence in the South(with an office in Bangalore). By the end of this year, we want to have our offices in Chennai, Hyderabad, Ahmedabad and Delhi, which will give us the speed and flexibility to execute projects faster and delight our clients.

To know more about this venture, do visit their website http://www.agneya.in/ Also, share your thoughts on this story by writing to us at feedback@yourstory.in

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