EESL appoints Mahua Acharya to head its new subsidiary Convergence

New Delhi: Energy Efficiency Services Limited (EESL) has appointed Mahua Acharya to lead a new energy company and a wholly-owned subsidiary of EESL — Convergence Energy Services Limited (Convergence). The company focuses on delivering clean, affordable and reliable energy and on energy solutions that lie at the confluence of renewable energy, electric mobility and climate change. 

EESL's new subsidiary

Convergence builds on the decentralised solar development experience in under-served rural communities in India, and over time, using battery energy storage, will deliver renewable energy solutions to power agricultural pumps, street lighting, domestic lighting and cooking appliances in villages. It will also work to enable battery-powered electric mobility and its infrastructure and design business models to increase the uptake of electric vehicles in India. To enable commercialization of these solutions at scale, Convergence will employ business models that utilize a blend of concessionary and commercial capital, carbon finance and grants as appropriate, an official statement said.

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Acahrya's career & background

Acharya has almost two decades of international experience in green finance, renewables and carbon markets. She has served as the assistant director-general of Global Green Growth Institute, an intergovernmental organization headquartered in Seoul with operations in 31 countries and has held roles with Mergers & Acquisitions at ArcelorMittal. In the early stages of her career, she was at the World Bank. Acharya holds a Masters' degree from Yale University.

"I have spent my career thus far straddling both international public sector and the private sector, and would now like to utilise my experience, skills and networks to enable large scale transformative impact in India. EESL is perfectly placed to enable the next generation of clean energy solutions," said Acharya.

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