Bajaj Energy: Researching Renewable Energy Investment Potential

During his internship at Bajaj Energy, Anurag was given a brief to assess the company's potential in the renewable energy sector. Bajaj Energy was a conventional electricity producer with a tie-up with Uttar Pradesh Power Corporation Limited, and the leadership wanted to understand where and how to move into cleaner energy sources.

Anurag owned the research from start to finish. He gathered publicly available market data, read articles and journals from reputed firms and credit rating agencies, and interviewed internal company leaders in the renewable energy segment to understand capital allocation requirements and energy source preferences.

He structured his findings as a SWOT analysis, identifying solar energy as the primary opportunity. His reasoning: India was producing around 80% of its energy through conventional sources, leaving significant penetration headroom; solar was heavily subsidized by government policy; and Bajaj had the geographic and operational base to pursue multiple solar projects. The weakness he flagged was high CapEx requirements, and the threat was an established competitor, Acme Solar, with roughly a decade of presence in the market.

When he presented his recommendation, the VP asked him to explore other energy sources to ensure the team was not missing an alternative with a stronger edge. Anurag went back, researched hydroelectricity as a candidate given Bajaj's geographic assets, and returned with an updated view. After reviewing both options, the leadership confirmed the solar recommendation as the stronger path forward.

The project ran for approximately 10 days.