Ashish Puntambekar has over 20 years of experience in the renewable energy and financial sectors and specialises in energy transition project design and financial innovation. He currently leads the genetically engineered biofuels vertical at a start-up based in Delhi.
In his previous role as head of climate finance at X36 Falcon, he provided advice to foreign institutional investors and private equity firms on investment strategies in the areas of green hydrogen, batteries and ESG. Earlier, he served as vice president, strategic planning, for six businesses at Reliance Industries for over six years.
Highlighting challenges such as short loan tenors, high capital costs and inadequate debt financing for funding renewable projects, Puntambekar emphasises the importance of designing bankable projects and fostering financial innovation in the industry. Looking ahead, he advocates the incorporation of financial instruments such as contracts for differences and urban equity withdrawal financing for wind, solar and green hydrogen projects. He believes that innovation in renewable energy project design and financial innovation using Industry 4.0 business models are essential for mobilising the trillions of dollars needed for India’s energy transition. “In today’s hyperconnected world, one needs to be a thought leader. This means thinking in terms of possibilities, within ecosystems. If we work to raise the standard of living of every stakeholder, people will help you lead them towards a better future,” he adds.
Puntambekar has played a pivotal role as a financial designer and business concept specialist for Project 42, a net zero initiative aimed at mitigating winter smog in north India. This project, which is reliant on innovative financing mechanisms, represents a groundbreaking endeavour in the country. “Today, the primary challenge facing renewable energy planners in India is how to elevate over 400 million people from lower-middle-class to middle-class status without compromising the environment,” he says.
Puntambekar is a graduate in mechanical engineering from NIT Surat and also has a master’s in international business from the Indian Institute of Foreign Trade, New Delhi.
Passionate about promoting education at the village level, Puntambekar is working to build a village school and skilling centre in Nashik through his private foundation, the Nataraja Foundation. His personal interests include going on fishing trips and treks with his family.