Leadership in the renewable energy industry has changed in recent years due to technological advancements, increased competition, and a strong emphasis on sustainability. Leaders need to be creative, flexible, and forward-thinking. The key qualities a leader should possess to be successful in this industry include a good understanding of technology, the ability to motivate and inspire a diverse team, a strategic vision, and a commitment to sustainability.
It is important to prioritize customer needs and adapt to digital advancements. Aligning with India’s vision to increase the use of renewable energy, leaders must focus on scalability and integration of renewable solutions. Mr. Parveen Kumar Jangra, COO & CTO of Oriana Power Limited, exemplifies such leadership by dedicating himself to staying at the forefront of solar innovations and maintaining a thorough awareness of all the recent technologies and trends in the sector.
Inspiring Journey and Achievements
Mr. Parveen Kumar Jangra has over 16 years of experience in the solar energy sector. He comes from a lower-middle-class family in a small town in Haryana. His father was a laborer who believed in the power of education to provide a better life for his children. Despite the financial constraints, he took loans to fund Mr. Parveen’s engineering education. Mr. Parveen’s father’s vision and commitment inspire him every day. His father’s lessons on honesty, hard work, and valuing nature have deeply influenced his life.
Entering the renewable energy sector was a fortunate alignment with Mr. Parveen’s father’s values. With a technical background, he started Oriana Power Limited, which focused on addressing challenges in this field, including engineering services, material quality inspection, and execution capabilities. He always aimed to tackle difficult projects and turn challenges into opportunities.
The most significant milestone for Mr. Parveen was the listing of Oriana Power on the National Stock Exchange (NSE). Transforming from a startup into a publicly traded Oriana Power Limited company in just ten years highlights the commitment to building a sustainable and profitable business. Other key achievements include completed installations in difficult terrains, which posed significant challenges from both execution and structural perspectives.
Inspiring Sources and Personalities
The remarkable transformation driven by the Indian Ministry of New and Renewable Energy (MNRE) has inspired Mr. Parveen. Over the years, the ministry has revolutionized the solar industry by making it financially feasible and sustainable. This transformation was achieved through a substantial reduction in tariffs, from Rs. 18 per kWh to an impressive Rs. 2.50-2.87 per kWh. Such a reduction not only positioned solar energy as the cheapest source of power but also demonstrated that renewable energy can be both environmentally beneficial and profitable creating a win-win situation for everyone involved.
Another inspirational source in Mr. Parveen’s life has been a professor he met while working with a government-backed solar institute. The professor collaborated with him on photovoltaic (PV) solar projects, exemplifying an unparalleled dedication and passion for solar energy. Despite being a government employee, the professor’s commitment transcended the usual boundaries of time, working tirelessly day and night, even on weekends. His unwavering passion and dedication to his work inspired Mr. Parveen profoundly.
Transforming the Solar Industry
Three young professionals founded Oriana Power in 2013. It is a leading solar energy solution provider in India, specializing in constructing and operating solar projects for industrial and commercial customers. It has gained recognition for delivering innovative solutions such as elevated car parking energy systems, floating solar solutions on water bodies, and solar energy projects on hilly terrains. Its journey from a small town in Haryana to a recognized name in the industry is a testament to resilience and a commitment to sustainability.
The strong partnership among the founding team has played a vital role in Oriana Power Limited’s growth and success. His business partners have played crucial roles throughout the journey and their synchronized efforts have been instrumental in overcoming challenges and seizing opportunities.
Staying updated with the ever-evolving market dynamics is crucial in the renewable energy sector. Oriana Power has always been open to embracing new technologies, understanding that while some attempts may not succeed, each experience contributes to its growth and knowledge. This openness to innovation ensures that it remains at the forefront of the industry.
Oriana Power Limited’s Customer-Centric Approach
Mr. Parveen regularly reads books, magazines, and newspapers to stay informed. This provides valuable insights into the latest trends and developments. However, the most significant source of market intelligence comes from the company’s customer-centric approach. By focusing on the unique needs of each customer, it gains a deep understanding of emerging opportunities and requirements. This often involves significant customization of the products and solutions tailored to meet specific demands. By continuously engaging with its customers and implementing new ideas based on their feedback, Oriana Power Limited maintains a dynamic and responsive business model.
Overcoming Hurdles
Because of technical background, the team struggled with the financial aspects of running a business. They faced difficulties in financial planning, understanding cash flows, and managing budgets. However, they embraced the challenges as learning opportunities and gained knowledge through courses and expert consultations. This approach enabled them to build a solid financial foundation for their business.
Another challenge was to convince customers to choose Oriana Power over established competitors. The team was often asked: “Why should we choose you?”. To address this, they focused on strengthening the value proposition by emphasizing the company’s ability to manage complicated site conditions and deliver better execution timelines. These factors gave it a competitive edge and helped build customer trust.
Securing financing for Renewable Energy Service Company (RESCO) projects was particularly daunting. Because it was a startup, lenders were hesitant to finance the projects. To overcome this, the team used their homes as collateral, valued at more than 100% of the term loan. This helped them in securing the funding. Raising equity presented another significant hurdle. Despite numerous attempts with high-net-worth individuals (HNIs), private equity firms, and investors, it faced repeated rejections. Undeterred, the team pursued listing on the exchange board as an alternative. They meticulously prepared and successfully listed on the NSE within an eight-month timeline, enabling them to secure the necessary equity.
Major Responsibilities within the Industry
Mr. Parveen’s primary responsibility is to establish and communicate the strategic vision for Oriana Power Limited. This includes defining the long-term goals, identifying key growth opportunities, and ensuring that the mission and values are consistently upheld across all levels of the organization. Given the importance of technological advancement in the field, he also oversees technology strategy.
Operational efficiency is critical in the EPC sector, and he is deeply involved in optimizing the processes and workflows. This includes overseeing project management to ensure that projects are completed on time, within budget, and to the highest quality standards. He also builds and maintains partnerships with key stakeholders, including technology partners and research institutions, to drive collaborative efforts and stay ahead of industry trends.
Oriana Power Limited Culture
At Oriana Power, employees are the backbone of its success and the company prioritizes the well-being and professional growth of its employees. It fosters a collaborative and inclusive work environment where everyone’s ideas are valued and encouraged. During the COVID-19 pandemic, the company made it a point to put its employees first. Despite the difficult circumstances, it had some operational sites that generated revenue, allowing it to continue paying salaries. Regardless of the limited profits earned during that period, the company made sure to pay salaries. This commitment to its employees’ financial stability underscored the dedication to their welfare.
Work-Life Balance
Balancing work and personal life is challenging and Mr. Parveen ensures that he achieves this by prioritizing to carve out dedicated time in the early morning for himself. Fitness is a significant part of his routine and he ensures to make time for his daily exercise to stay energized and focused. Family time is equally important to him. Their support is crucial and provides the motivation needed to navigate the challenges he faces. Achieving all of this would be impossible without his family. By setting aside specific times for family and personal activities, he remains grounded and maintains a healthy balance between work and personal life.
Advice for Leaders and Entrepreneurs
One key difference between a professional and an entrepreneur is the ability to take risks. Mr. Parveen says that as an entrepreneur, his risk-taking ability is significantly higher. One must have clarity about what to start and where to begin. Knowing the strength is crucial. An entrepreneur has a different mindset and approach to dealing with tasks, focusing on innovation, and seeking challenges. Developing a professional skill set is essential after starting an entrepreneurial journey.
Everyone has a thought or an idea, but what sets successful entrepreneurs apart is their capability to take risks. This doesn’t mean taking risks blindly; it involves calculated risks. Assess the potential rewards and pitfalls, plan meticulously, and be prepared for setbacks. Ultimately, the execution of an idea depends heavily on one’s willingness to take these calculated risks.
