Renewable energy is big business in India. The country is on a mission to achieve net-zero carbon emissions by 2070, and clean power production is a key factor in that drive.
As the founder of ViViid Renewables, Siddharth Mehra (MSc Accounting and Financial Management, 2004) is at the heart of the revolution. He leads the largest wind energy project developer in India; one that has expanded into the solar power sector.
Siddharth works with global companies investing in developing major wind and solar power generation projects as India aims to generate 400 gigawatts of renewable energy by 2030. Siddharth’s success in the renewable energy sector was recognised when he was named one of India’s Young Disruptors – Entrepreneurs under 40, who are reshaping the sector they operate in – by Business World magazine this year.
But it has not always been so bountiful. The company would not be where it is today if its owner had not believed in his cause and taken a chance.
“Risk-taking is a part of business as an entrepreneur, but if you believe in the idea, then you should never give up,” Siddharth says. “When I started off, it was very tough, but then the deals came in, I was in the right place, I got the orders and the big projects. When I started it wasn’t easy – it was a different market. But the market will always change, and you have to be ready for the opportunity by working hard and believing what you are doing is right.
“Now, India has committed to net-zero by 2070, and we have a very ambitious plan of 400GW of renewable energy projects by 2030. There is a huge initiative now, pushed by Prime Minister Modhi for going all-green. A massive marketplace has opened up, and there are strong tailwinds for the sector to really take off.
“We are partnering with international players who want to come into India, and we are helping them make their investment in India a success.”
Siddharth still uses the skillset and knowledge acquired at Lancaster in his work, where he travels across India overseeing large-scale Engineering, Procurement and Construction (EPC) projects that will generate between 200 megawatts and a gigawatt at any point in time. His main role is to ensure projects are completed on time and in a safe, high-quality fashion.
“The Lancaster degree has helped me in multiple ways,” says Siddharth. “I am implementing the degree into reality in the company I run right now, and it has been a real part of my journey.
“I understand a lot more about accounting and financial management. Looking at the balance sheets and the finances of the companies we run, those we work with as partner, the degree really helps. It helps the team as well – they know that the boss knows what he is talking about.
“As you lead a company, those lessons are still there from many years ago. You need to understand how a company can be profitable, and how to invest your money in the business.”Back to News