We recently interviewed Raja Srinivas Pedada, Managing Director at Investment Company & Energy Group. He holds expertise in energy greenfield projects, IPPs, project finance, and several other areas. Since 2016, Raja and his team have emphasized different power generation investment opportunities, project development, and other essential aspects. He has also attended multiple Leadership programs that help him develop strong business and technical qualifications. He has also added many awards and recognitions to his list for his excellency in this field.
Start Of The Journey
We started the interview by asking, “Which career path led you to where you are today?”
He shared, “Growing up, I often observed the functioning and motions of various objects around me. Machines that ran with electricity and power fascinated me. I would analyze and study the workings of multiple devices. These made me realize that the Energy field is my forte. My journey began by joining a significant fertilizer group as a Project Management Trainee in India in 1994, despite being selected for a commissioned rank in the Indian Navy. I chose to join the former organization as it was located in my hometown.
However, soon after, getting an opportunity in the energy field in 1995 reignited my passion. I relinquished and started working in the Energy field with MAN Diesel Power Plants and MAN Energy Solutions. From 1995 until December 2008, was instrumental in implementing over 150 projects across various industrial installations in India and abroad meant for Captive Power generation.”
Raja continued, “In January 2009, I moved to the Middle East and successfully implemented the first IPP project of 85 MW, cleared for commercial operation by June 2010. While executing these IPP and other industrial projects, I gained valuable experience and exposure, which paved the way for establishing my current roles and responsibilities.
My journey has been passionate and rewarding, and I am grateful for the opportunities I have had along the way. Each responsibility has taught me valuable skills and helped me grow professionally, leading to where I am today.”
Inspiration Behind This Company
We were interested in learning about the significant inspiration of Raja behind building this successful business. We asked, “What inspired you to develop the idea for your company?”
He shared, “The idea for our company was conceived due to the power availability shortage in the Middle East’s economically remote regions. To address this issue, our promoters set up power plants that could provide cheap and uninterrupted power to public utility corporations and upcoming industrial units via separate distribution/transmission lines and through the public utility corporation grid.
Our promoters launched an investment company in 2010 with a leading industrial house, “Sabson,” a flagship company of M/s Bajarsh group under the chairmanship of Mr. Yahya Bajarsh and funding organizations such as the Arab Fund for Economic and Social Development and other organizations. This initiative successfully paved the way for implementing the first IPP project of 85 MW, which is still operational in the Hadhramaut region of Yemen. Since then, we have implemented several projects under rental PPA’s with the utility grid.
Our business fundamentals prioritize ownership and establishing, operating, and managing investment projects, industrial, commercial, and other sole or shared with third parties. We aim to create, own, manage, and operate power plants and accessories on a BOO & BOOT basis, sell and rent electric power, provide advisory services and training in electricity, and any other purposes that will directly or indirectly achieve our goals.”
Evolving Priorities
Business priorities often change with years of functioning in the industry. We asked, “How have your priorities in terms of business evolved since you first started?”
Raja shared, “We intend to meet energy needs by taking on large Electro-Mechanical Projects on an EPC basis. Regardless of how challenging a project may be or how remote its location is, we can handle it. This is because we bring a unique combination of knowledge, skill, experience, and customer commitment to every project.”
Challenges And Key Points To Overcome
Being in the market, it is inevitable for businesses to face different kinds of challenges. We asked, “What are the most challenging situations your company overcomes?”
He shared, “The regions in which we operate have many challenges in deploying the resources, rugged terrain besides geopolitical frictions, but we still invest /committed to supporting them notwithstanding the limitations. We put much more effort into offering projects with our aggressive approach and, of course, with visible backing from our investors, making our task easy.
Our project team has a robust service network that provides quick, reliable, and efficient service, which our customers rely on.”
“What’s the key strength to overcome it?”
He shared, “We learn from our past experiences and use those lessons to better ourselves when facing present challenges. Every challenge presents an opportunity, and this is how we move forward. We are amenable and adaptable. We constantly upgrade ourselves with market developments and technological changes, and we occasionally keep our customers informed of new updates.
We design the right services and measure customer satisfaction. We not only fulfill our customers’ requirements by focusing our efforts on “response time” and “add-on services” but also share risks with customers at times, which puts us at the forefront and persuades customers to seek our products and services.
We believe in being proactive, continuously improving our processes and systems, and investing in the latest technologies and equipment to ensure we are always at the forefront of the industry. Our team of highly educated, talented, and dynamic young professionals, along with our in-depth understanding of business processes, keeps us moving forward.”
Stand Out Factors
To learn how their company is different and unique from their competitors, we asked, “What makes your company stand out from all the other businesses in your industry?”
He shared, “Our projects have contributed to the growth of local economies in the Middle East region. Our efforts have improved the quality of life for communities and people. Our work has repeatedly demonstrated that the only limits on human achievement are those we place on ourselves. Through a balanced combination of examination and development, we create value while bringing long-term social and economic benefits to the Middle East and the communities we work with. We deliver the right projects strictly adhering to the timelines with our well-groomed and experienced teams who are highly productive, thus standing out among our peers.”
KPIs For Measuring Business Succes
“What KPIs do you use to measure your business success?”
He shared, “Besides harmonizing the way we work, we create a knowledge database, effectively share information, and encourage our team by defining clear goals and expectations, ensuring everyone understands their roles and responsibilities. We recognize the team’s hard work, offer incentives, foster a positive and supportive workplace culture where our employees feel valued and appreciated, provide opportunities for growth and advancement, and promote work-life balance by motivating our employees to prioritize their well-being and offering flexible work arrangements and time off when needed.”
Available Services
We were interested to learn about the current services offered by the brand. So we asked, “Tell us something about your services. What are you working on now?”
He replied, “Our services include:
- Execution of power plants on BOO & BOOT basis from feasibility study to implementation & operations (EPC basis)
- Implementation of substations and switchyards (power transformers and low, medium & high voltage switch gears)
- Large transmission & distribution networks (T&D)
- I&C systems, system engineering, and SCADA
- System strengthening covering voltage regulations, load flow studies, and schemes for preventing unbalanced loads.
- Energy audit & demand-side management.
- Project management & development, to name a few.
We recently entered an MOU with M/s Chint related to renewable energy, such as on-grid, off-grid/hybrid solar solutions, and energy storage solutions. We are trying to lead the public-private partnership in power and exploring the possibility of establishing a few energy projects in the MENA region in renewable and non-renewable areas of development. We are also pursuing to develop and support the building of new energy projects above 100 MW in some governorates in the underdeveloped regions of MENA, where there is a very high demand for power and limited public resources available.”
Building Strong Bonds
Emphasizing building strong bonds with employees must be every business owner’s concern. This encourages them to perform better with enhanced productivity. We asked, “How do you build trust with your employees and boost productivity without causing burnout?”
Raja shared, “I strongly believe in teamwork and leading from the front. The group takes responsibility for any mistakes that are part of our journey. We assign our team to attend training sessions at the respective OEM centers, conduct workshops, and provide regular on-the-job training in their areas of expertise. We focus on individual strengths rather than weaknesses, which we correct by providing additional training as required. This way, the team feels encouraged and recognized and intrinsically desires to do well.
Every division leader in our team commands respect by leading from the front. I maintain close relationships with the team, provide ongoing support, guidance, and inspiration, and encourage a collaborative and supportive work environment to help everyone succeed, be happy, and love their job, besides offering incentives & growth by recognizing their hard work.”
Adapting To the Latest Technologies
Another major factor for a successful business is understanding the dynamic trends and adapting to the latest technologies. So we asked, “How do you stay on top of new technologies and trends in your industry?”
He shared, “We use technology to streamline our processes, improve efficiency, and enhance customer service. It has helped us grow and reach more clients in different parts of the world. Technology has revolutionized how businesses operate and has led to significant changes in areas ranging from marketing, promotion, and sales to accounting.
With the advancement of technology, we aim to utilize more innovative systems to make our interactions seamless and enhance our clients’ experience. Innovation is critical today, and embracing and applying innovative changes in the workplace makes our lives easy and smooth.”
Advice To Beginners
Starting in a similar field will find it inspiring and helpful to hear from an expert like Raja. So we asked, “What advice would you give starting entrepreneurs?”
He said, “Stay disciplined, which will take you a long way forward. Hard work, perseverance, and determination can help you reach your desired destination and lead a content and fulfilling life. Never give up, and always be optimistic about whatever life offers. Prioritize your family, friends, relationships, and health, which are paramount. Remember one thing: hard work will never go unrewarded, and therefore you should keep striving and move ahead by performing your duties diligently, which will pay you in the long run.
Nothing comes easy; there will always be ups and downs, but it is most important to learn from everything. Take the mistakes, generate solutions and wins, and level up to something greater.”
He added, “One should responsibly conduct business activities which can assure people’s health, safety, and security, preserve the environment, and comply with all applicable regulatory requirements in the regions where they operate.
My humble advice to beginners is to have complete confidence and faith in themselves, be industrious, plan things, and practice proper time management. Try to find a solution to a real problem in the market by bridging the gaps where necessary. It’s essential to maintain integrity and objectivity in whatever you do. This means being honest about preconceptions and striving to present a fair and balanced depiction of events and people. Last but not least, the right attitude with a proactive approach, building and maintaining positive relationships with clients, coworkers, and suppliers is critical to long-term success in the industry.”
Connect with Raja Srinivas Pedada on LinkedIn.
