Mr. Ben Parry, Director, Project Finance, Azure Power addresses FMS students

 | August 20,2010 02:29 pm IST

Faculty of Management Studies, Delhi University played host to Mr. Ben Parry, Director, Project Finance, Azure Power.

Mr. Parry delivered a lecture enlightening the first year students of FMS about Solar Power as a clean energy resource for a better future of planet Earth, and particularly of India as a growing economic power in the world context.


He said that India is a nation that is on the brink of development explosion, but on per capita consumption terms, India lags far behind other countries. He quoted the instance of Germany, which despite having just one-fourteenth of the population of India, consumes approximately the same amount of electricity per unit time. India’s power supply, he said is riddled by shortages and transmission losses. The solution lies in continued development in solar power as a clean, sustainable energy resource.


Mr. Parry emphasized on the importance of harnessing solar power in India by bringing to light the fact that India is one of the top five carbon dioxide emitters in the world today with a 4% share of global emissions. It only lags behind USA, China, Russia and Japan in this regard. Furthermore, India witnessed 53% growth in greenhouse gas emissions from 1994 to 2007. Solar power does not require humungous infrastructure and limits transmission losses, which further fuels its present-day applicability. Long-time viability is also good, since in the modern-day context, it is not just about climate change but also about demand for power in a growing economy.


Mr. Parry explained that the main reason why solar power is not being deployed at a residential level is that it is expensive as compared to other sources of power. However, he expressed hope that since solar energy is getting cost competitive, it will soon no longer be regarded as expensive.


Mr. Parry then gave an overview of the company that he works for and explained its mission of helping India meet its growing energy demands by providing clean power supply. The key milestones achieved by Azure Power were highlighted, starting from its foundation in 2008 by Inderpreet Wadhwa to the commencement of its first power plant operation in Punjab in 2009 and its signing of an MoU with NTPC to become the first operation project under the National Solar Mission in 2010.


Mr. Parry expressed pride in the working of Azure Power and encouraged the students of FMS to think beyond the brand name associated with a select few companies and consider the profile on offer. He said that one big advantage that small, upcoming firms offer over bigger names is that instead of being just another part of the process, you get the opportunity to play a key role in the development of the firm. He cited Finance, People, Experience and Technology as the main strengths of Azure Power.