This Entrepreneur Left Home in His 20s to Make a Mark in Renewable Energy
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In the pursuit of building his own business with a unique idea, a young lad from an upper middle-class family left home in his mid-twenties.
An indomitable spirit of bootstrapping the business led Ravi Kailas, the Chairman of Mytrah Energy, into an entrepreneurial journey that would cater to the needs in the infrastructure sector.
He has succeeded in making a mark in the renewable energy business in less than seven years.
Instead of joining his father in their family business, Kailas chased his dreams of building his own identity the way he always wanted to be. Growing up in a business family, Kailas always had an entrepreneurial streak to do something unique in life.
Focus on Addressing Infrastructural Issues
Sharing his experience with Entrepreneur India, he said he has always been surrounded by entrepreneurs that kindled the urge in him to become one at a very young age.
After an extensive research, in 2010 he successfully built a sustainable business venture called Mytrah Group, headquartered in London.
The group supplies wind and solar energy to power stations in India and abroad. It is a privately owned venture, guided by strong corporate values and high ethical standards.
"I wanted to set up a long-term business, on an extensive scale and found a sea of opportunities in the infrastructure sector," told Kailas.
A Promising Sector
Kailas entered into business with the aim of facilitating infrastructure projects with renewable energy. He could spot numerous opportunities in the infrastructure sector, which needed the energy push.
"In 2010, we gauged the scenario to be perfect to start business in renewable energy. The way the sector was shaping up, we were sure that it will become the biggest sector worldwide," recalled Kailas.
"From the time we started till now we have seen significant changes taking place in the renewable energy space," he said, citing the major changes in the Indian scenario like change in pricing of the energy, private companies taking ownership in renewable energy business and both, favourable and not-so favourable behaviour of the banks in lending funds to the energy businesses.
Having no background in renewable energy business, Kailas worked very hard to list Mytrah Group in London Stock Exchange "even when it had no employee."
In 2016, Mytrah Group increased its revenues by five times compared to 2015 fiscal figures.
The company had posted its revenues of $362.23 million for the year ended December 31, 2016, an increase of 385 per cent over previous year's revenue of $74.72 million.
"Nothing is like Sun and Wind"
In 2016, the company had entered into deals to supply 140 MW of solar power, bringing the total production figure to 422 MW in Telangana, Punjab and Karnataka.
The government of India's plan of shutting down thermal power plants in the country is going to give a major push to solar and wind energy businesses in the space. "Energies like solar and wind will be the largest capital deployment arenas the world has ever seen in the next 10 years."
In addition to the under-construction projects, the company has a pipeline of wind projects exceeding 4,000 MW in India.
Mytrah Energy is also looking at further developing its solar business. Asking if the company is looking for government support, Kailas said, "We are not asking for subsidy, but just a right policy framework to work without hurdles."