Santosh Kamath has had a vast career as management consultant in the energy sector, spanning over two and a half decades.
He was involved in the early days of power sector reforms in India, and subsequently in the private sector investment cycle and the rise of renewables. In his current role as managing director at global consultancy major Alvarez & Marsal, he oversees energy transition, advising investors and corporates on the subject. Prior to this, he served as partner with KPMG India, where he has been senior consultant – director in the past.
According to Kamath, the power sector is on the cusp of significant transformation over the next 10-20 years. The system’s architecture will change with a massive influx of renewables from around 15 per cent today to over 50 per cent post-2030. This will require changes in technical and regulatory frameworks and massive investment flows, estimated at over $600 billion over the next decade. Innovations will be required at many levels to achieve these goals.
One of the unresolved challenges is ensuring the robustness of discom finances and performance. Though we have had many waves of reform initiatives, a sustainable recovery solution remains elusive. At a fundamental level, this could hinder energy transition goals. State governments should realise that a healthy power sector benefits their finances and economic development, as seen in states such as Delhi, Odisha and Gujarat.
Kamath’s memorable assignments include an effort to rationalise coal linkages across India in order to optimise coal logistics costs and improve availability to thermal plants – a landmark exercise to bring efficiency and change in the coal sector. Another was the thought leadership paper he authored in 2011 titled “The Rising Sun”. It took a strong point of view on grid parity for solar by 2017 and the significant contribution solar power would make by the 2020s, prophecies that have largely come true.
Kamath’s management style is driven by innovation and collaboration. These are his core tenets for providing solutions in a challenging, fast changing environment. His approach provides flexibility for his teams and a space to be creative. He values resourcefulness and originality in his team.
Santosh holds an MBA from the Indian Institute of Management Bangalore, and a BTech in Electrical Engineering from the Indian Institute of Technology Bombay.
