30 minutes with Mr. Aditya Pyasi

1. You’ve had the rare opportunity to witness the evolution of India’s power sector both from a regulatory and market-making standpoint. How do you think the power market has matured since your early days at IEX and CERC?

It was a very different time. Power exchanges were in their infancy and people had doubts whether a power exchange would succeed in India, which was a power-deficit country at that time. Over the years, however, India’s power sector has shifted dramatically from a tightly regulated, supply-constrained system to a much more dynamic, digitalised, market-oriented framework. In the early days, operations were focused on ensuring that the trust for trade and scheduling of power seeps in, and we have come a long way from there. Today, with competitive power exchanges, green open access, and more flexible market products, we have greater transparency and efficiency. The market now incentivises cleaner generation, demand response (contingency market), and the integration of renewables, ultimately resulting in better price signals for both producers and consumers. This maturity is evident with listed power exchanges (IEX) now. We are bracing for the introduction of derivatives for power trade, which is expected to bring down the volatility in prices and lead to a much more mature market.

2. Having worked at both regulatory bodies and private giants like Reliance Infra and Vedanta, how do you navigate the often-complex interface between policy and business execution?

Working with apex regulatory bodies gives one a very good overview of why regulations and policies are being designed in a particular manner. The RE and RPO regulations framed, and the competitive bidding contract around 2010 continue to define the decisions of investors and organisations till date. Navigating the interface between policy and business is about understanding that both have different motivations but shared long-term goals. One has to strive to translate regulatory objectives into actionable business strategies—by aligning corporate planning with regulatory timelines, engaging policymakers proactively, and fostering an internal culture that embraces compliance as a value-add, and not a constraint. Honest dialogue and early stakeholder engagement are essential to overcoming misalignments.

3. With your recent leadership at Statkraft India, how do you see the role of international players in accelerating India’s renewable energy transition?

International players are critical to India’s renewable journey. They bring access to global capital, exposure to world-class technology, and best practices honed across multiple markets. Their involvement raises industry standards and helps accelerate innovation and collaboration in areas such as digitalisation, project execution and stakeholder engagement. Their investment also signals confidence in India’s growth story, helping attract even more participation and enabling accelerated scaling up of renewables.

4. The power and renewables space are increasingly intersecting with technology, finance, and sustainability. How do you see the role of corporate strategy evolving in such a dynamic ecosystem?

Corporate strategy today must be inherently multidisciplinary and future-facing. One has to have the patience and gumption to understand and appreciate all aspects of business, even those that appeared irrelevant earlier. Most significantly, sustainability must be a core pillar of every business decision, not just a compliance item. Strategy has evolved from planning in silos to building flexible, resilient organisations that thrive by anticipating changes in technology, regulatory trends, and societal expectations.

5. In your view, what are the key regulatory or market reforms still needed to unlock the full potential of India’s renewable energy ambitions, particularly in storage and grid integration?

To unlock the next phase, we need clear frameworks for improving grid-stable, sustainable solutions at the right prices. India is showing the way to the world on how an economy can turn green in a democratic set-up and remain cost-competitive. Unlike other countries, our RE capacity addition has been a story of organic growth. Having said that, we are still a long way from the 500 GW RE capacity target which has to be achieved at the lowest cost to the consumer. To achieve this, it is imperative to have the right mix of Wind, Solar and Battery storage sources in the grid. Many countries have suffered because of an imbalance of RE sources in the grid. India has started experiencing excess power and low prices during the day time, contrasted with deficits and consistent high prices in non-solar hours. This is where the next phase of reforms have to be directed – i.e. towards grid stability and lowest power price to consumers.

7. You’ve worked extensively with government stakeholders. What advice would you give to young professionals trying to build impactful careers at the intersection of policy and infrastructure?

I would advise young professionals to develop both depth and breadth. Understand the technical details, but also see the bigger picture—how policy shapes markets, and how infrastructure can catalyse economic transformation from early on in your career. Build relationships across sectors, stay informed, and never hesitate to ask questions or to challenge the status quo. Patience and perseverance are essential; meaningful change takes time, but those who persist can drive real-world impact. Finally, maintain integrity and keep learning—these are timeless assets in any career.

8. Looking back on your 20-year journey, what philosophies or lessons have remained constant for you while navigating such diverse roles and institutions?

Three guiding philosophies stand out: integrity—always act with honesty and transparency; adaptability—be open to change and willing to learn; and collaboration—value the power of working with diverse teams and stakeholders. No matter the role or organisation, I have found that staying rooted in these principles builds trust, drives innovation, and leads to sustainable success. Embracing each new challenge with these in mind has been my compass throughout this journey.