Heat. Heat. Namaskar. I am Prasanna Motupalli, chairman and managing director of NLC India Limited, the oldest integrated energy company in the country. While IPMA is celebrating its 60th year of existence, we are celebrating our 70th year. My topic today is portfolio management for a green future. The basic necessities of life are food, cloth, and shelter; the 19th century added energy, and the 20th century added data, which is also related to energy. Development is decided by per capita energy consumption and quality of life. Energy must take care of mother nature, hence the need for energy transition. Portfolio management is important for a smooth and effective global energy transition. For energy independence and security, we must pass through various steps to reach global equality. Countries set energy transition targets, and we must use portfolio management effectively. India's per capita energy consumption is hardly one-third of the global average. India aspires to be a developed country by 2047, requiring per capita consumption of 6,000 to 12,000 kWh from the current 1,300-1,500. Reaching the global average of 3,000 and then 6,000 is a major challenge. For energy-secured countries, it is a single transition project, but for developing countries like India, it is a combination of providing basic electricity and transitioning simultaneously. This challenge is an opportunity to use portfolio management to achieve energy independence by 2047 and net zero by 2070. Energy transition is the largest redirection of capital in modern infrastructure history, with almost $2 trillion per year invested, 75% from the energy sector. We must move from project delivery to transformation leadership, from traditional project management to modern portfolio management. Traditional focus was on doing projects right; now it is on doing the right projects. Measures shift from time, cost, scope to reliability, renewability, and resilience. A balance between reliability and renewability is needed. The globe uses modern techniques and IPMA competencies: individual, organizational, and project excellence. We have been successful in balancing conventional and renewable capacity with green initiatives, inculcating a culture of performance using IPMA standards. I started my association with IPMA 15 years ago, completing Level D, and was impressed with the results. We decided to prioritize improving competencies; we have over 370 certified professionals at A, B, C, D levels, with 138 in the pipeline, and all new recruits will be imparted with this certification. This is one reason our market capitalization improved four times in three years, a record in public sector enterprises. Project excellence is now measured by value and impact, not just time and budget. Sustainability, reliability, and impact on environment and society are key. Green projects are commitments to future generations, like the highest solarity of UNZ. We are balancing conventional capacity and green power generation. Thermal power must continue to meet basic requirements, but we are maintaining a balance accepted by policymakers and investors. Our portfolio strategy pillars: maintain existing thermal power resources (75% of energy requirement) with limited environmental impact, strengthen energy security with eco-friendly thermal generation, accelerate renewable expansion to achieve 10 GW by 2030, enable the nation's target of 500 GW by 2030 and net zero by 2070, and promote sustainable mining and circular economy. We are the only company in the country to use SM technology with no dust emission and no vehicular transportation. The grid of tomorrow is renewable, resilient, and industrial. The new energy portfolio model includes thermal with carbon capture, green hydrogen, renewables with storage. We were the first to establish a grid-scale battery storage system in Andaman, replacing diesel-based power. Portfolio management is key to achieving energy transition. From project delivery to portfolio value delivery, from short-term outputs to long-term sustainability, from capacity building to capacity building. We are committed to a resilient future, effectively using portfolio management and skilling our people. A call for green, resilient, and inclusive energy future is the need of our business. Sustainability is the buzzword, and using portfolio management for a greener future is our utmost priority. Thank you. I thank IPMA for this opportunity.
