Amit Gupta started his career as a legal professional with a key focus on infrastructure and renewable energy. Over the years, he has worked in senior management roles, developing asset portfolios in road infrastructure and renewable energy. He has been working in the solar segment for over 10 years with his engagement extending from concept to commissioning. He has vast experience in areas like litigation, alternative dispute resolution and arbitration, risk assessment and mitigation, contract management, project supervision and management, due diligence, M&As and joint ventures. Currently, Gupta is director for legal and corporate affairs at Vikram Solar.
Gupta is optimistic about the future of solar power in India as, apart from utility-scale solar plants, the residential and commercial rooftop space is gaining significance. Industries too are now looking to have captive solar plants. In line with this, Vikram Solar plans to significantly ramp up its capacity and is focusing on innovation, customer centricity, and quality of products and services.
On the challenges in the solar segment, Gupta remarks, “The transmission infrastructure has not been augmented adequately to handle the massive capacity additions. Besides, domestic module manufacturers are struggling for survival. Policy and regulatory uncertainties have created an unpredictable environment as even after one year of GST implementation, ambiguity persists on the applicability of the GST rate.”
One of Gupta’s most memorable assignments was trying to acquire land on a long-term lease for his company in 2013-14. The task was challenging due to the farmers’ unwillingness despite the land not being fertile and offering a low annual yield, and Gupta offering them a guaranteed return with a better option than crop insurance. However, after six to eight months of hard deliberation, he was able to strike a deal and successfully acquire 150 acres in Mansa district of Punjab. This set a precedent for other farmers and developers in the area.
Born and raised in New Delhi, Gupta is a law graduate from the Faculty of Law, University of Delhi. He also has a degree in business management, and is a fellow member of The Institute of Company Secretaries of India and a member of the Indian Council of Arbitration. To maintain a healthy work-life balance, he exercises regularly, eats healthy and tries to find entertainment in whatever he does. In his spare time, he reads spiritual books and catches up with friends. His personal goal is to work for community development post retirement.