Shashwat Goenka, Vice Chairman of RPSG Group, discusses the group’s plans for transformation and growth in various sectors. He highlights the infrastructure development and talent attraction in Kolkata, the turnaround of Spencer’s Retail, and the expansion plans for the value and luxury segments. Goenka also discusses the growth of Too Yumm, the opportunities in the BPO industry, the focus on renewable energy, and the transformation of Saregama in the digital era.
In FY 2023-2024, renewable energy accounted for a significant portion of India’s newly added power generation capacity, with solar energy dominating the renewable energy addition. The share of coal and lignite in India’s total installed capacity fell below 50% for the first time. The report also highlights the rise in peak power demand and the increase in foreign investment in non-conventional energy.
The AP State Energy Department has decided to temporarily shut down its hydel power generation unit at Upper Sileru in the Eastern Ghats bordering Odisha, in Alluri Sitarama Raju district as an energy conservation measure. The move will not only save the natural resource (water) required for power generation during the peak season (summer), but also save money (₹430-500 crore) for the State government.
India’s industrial production increased by 3.8% in December 2023, up from 2.4% in November 2023. The factory output growth, measured by the Index of Industrial Production (IIP), rose by 5.1% in December 2022. Power generation declined by 1.2% YoY, while mining output dropped to 5.1%. The manufacturing sector output grew by 3.9% YoY in December.
Indian solar module maker Jakson Group aims to diversify into power generation with a target of 5 gigawatts of power capacity by 2030. The move is part of the company’s plan to tap into India’s ambitious goal of installing 500 gigawatts of clean energy capacity by 2030. Jakson Group, which currently manufactures modules and executes turnkey contracts for renewable energy projects, sees this expansion as an opportunity to benefit from the entire value chain of the business. The company is also planning to double its modules-making capacity and explore a new location for a cells-to-module facility.
