A Pioneer in India’s Power Sector Reforms and Renewable Energy Strategy
Dr Prasanna Kumar Acharya
Financial Director,
NLC India Limited
Credited with being a key member of the Finance team responsible for India’s first power sector reforms, Dr. Prasanna Kumar Acharya has built a distinguished career spanning over 28 years in the energy and infrastructure sectors. His journey began with Odisha’s state power distribution and transmission utility, where he played a critical role in pioneering reforms that reshaped India’s power sector. This foundational experience set the stage for his leadership roles at NTPC, Tata Power, M/s CMRL and NLC India Limited. During his tenure as Director (Finance) at Chennai Metro Rail Limited (CMRL), Dr. Acharya played a vital role in securing D35,000 crore loans from multilateral banks such as JICA, ADB, NDB, and AIIB. His strategic financial planning was instrumental in the progress of CMRL’s D63,000 crore Phase-II Project, sharpening his expertise in managing large-scale investments and complex funding structures
Dr. Acharya has showcased exceptional leadership in Accounts, Taxation, Project Finance, and Fund-raising. His contributions in revenue improvement, asset monetisation, and system automation have positively impacted every organisation he has worked with, driving growth and innovation. A visionary in Finance, he continues to shape India’s energy and infrastructure sectors, leaving a lasting legacy of strategic foresight and transformative leadership. Speaking with TradeFlock, he shares his journey and experience.
What key developments have you seen in the power sector?
The power sector is undergoing a monumental transition, and I’ve had the privilege of witnessing some of its most fascinating developments. One of the most exciting changes is the shift from fossil fuel-based systems to renewable energy and advanced storage solutions. I’ve also seen the rise of the “prosumer” concept, where consumers not only consume energy but also produce it through installation of rooftop solar systems. Another major shift is the move toward a market-driven, technologyoriented approach. In the past, regulatory frameworks-controlled pricing, but now, market forces are beginning to drive consumer behaviour, technology adoption, and pricing dynamics.
What’s the toughest decision you’ve made in your career, and what was its outcome?
One of my toughest decisions came during my tenure at CMRL, involving a substantial loan from JICA. Through meticulous planning and strategic interventions, we have saved over D3,000 crores, ensuring the project’s long-term viability. At NLC India, critical decisions on Commercial Coal Block and RE Projects Bidding strategies brought similar high stakes but resulted in significant cost savings. Balancing regulatory compliance with innovation has been challenging yet rewarding, shaping my approach to progressive and impactful leadership.
How do you balance risks and rewards in NLC India's renewable energy transition?
NLC India has been a trailblazer in renewable energy, achieving a landmark one-gigawatt capacity in 2017 as the first CPSU to do so. Our commitment to sustainability continues with over five gigawatts of renewable projects underway and a target of 10 gigawatts by 2030. We carefully balance risks by prioritising viable bids and forming joint ventures with state utilities, adopting a cost-plus regulatory approach for steady returns. This strategy ensures sustainable growth while managing financial and operational risks effectively. NLCIL is expanding its territory to capitalise on opportunities available across various parts of the country.
What advice would you offer to aspiring Finance leaders?
To aspiring Finance leaders, I emphasise the importance of hard work, holistic business understanding, and timely decision-making. Go beyond financial metrics to grasp technical, operational, and economic aspects. Adaptability and continuous learning are vital in today’s dynamic environment, enabling leaders to make informed decisions and drive organisational growth effectively.
How do you manage technology integration at NLC India, given public sector challenges?
Public sector organisations often face challenges in adopting new technologies, but at NLC India, we are committed towards fostering innovation, automation, digitisation and AI driven analysis. When I joined from the private sector, I introduced automation and digitisation strategies. One major initiative was implementing a centralised ERP system, and we are now migrating to a second-generation ERP with AI-driven capabilities. This system enhances automated data analysis, report generation, and decision-making, minimising manual intervention. We are also integrating AI to improve compliance and operational efficiency, ensuring that NLC India aligns with global best practices and fosters a more automation-oriented, compliance-driven approach.
How do you ensure effective compliance and regulatory adherence at NLC India?
Compliance is paramount in the public sector, especially in areas like mining and renewable energy. At NLC India, we ensure adherence through a robust online compliance management system, which tracks requirements in real time and flags potential non-compliance promptly. Additionally, we have introduced boardroom automation software to enhance decisionmaking transparency and streamline compliance reporting. By integrating technology and promoting accountability, we’ve strengthened our compliance framework, aligning it with industry best practices and ensuring seamless adherence to regulatory standards. NLCIL is also committed to focus largely towards Environmental, Social and Governance aspects which forms core to its fundamental business principles and practices. NLCIL is also striving to uphold its commitments towards Environmental, Social and Governance principles for inclusive and sustainable growth of the organisation and its stakeholders.
What are your strengths and weaknesses?
My strength lies in analysing issues deeply, uncovering root causes, crafting effective solutions and the inquisitiveness for updating with the current market trends and scenario. However, maintaining work-life balance has been a challenge, and I am actively striving to improve in this area.
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