AVP – Finance & Accounts (New Energy Vertical):

1. 1. Accounts management (internal audits, statutory audits, etc):  We have 60 solar SPVs, 22 general companies out of which we are working on closure of 14 (will still take about 6-months) 3 BESS companies, 1 T&D company, and now HG CES. This is a very big portfolio and cannot be managed as a shared service and will remain under the HG CES Finance Head (CFO). Even Harendra ji had originally directed to keep it separate under the new energy vertical.
   2. Billing & Collection: This is an extremely important function as we must collect revenue from 60 solar SPVs, 3 BESS SPVs (possibly from the lone T&D SPV as a shared service offered by CES to T&D). This team has also to drive the entire process for ensuring that the money from CFA finally hits the SPV bank account, ensure all paperwork is complete and send to DISCOMS, liasioning with DISCOMS to ensure files move to MNRE, and from there to RBI, subsequently RBI disbursement to DISCOMS, and finally ensure DISCOMS disburse payment to SPVs
   3. O&M Cost Control: Financial control of costs incurred during O&M of all solar PV plants, 3 BESS plants, and all future Solar+BESS plants, GH2 plants, and any manufacturing plants that we would have or get under our belts via investments
   4. Compliances: This needs to happen in 3-buckets –
      1. At the accounting level: This is already being done by the accounts management team
      2. At the corporate level: This is being provided as a shared service by the central accounting team
      3. At the regulatory level: This needs to be managed by the SPVs under HG-CES at the project level. This is where we have the biggest gray area as to what parts will be managed by the SPVs and which part will be managed for the SPVs by the HGIEL EPC arm (led by Rajib Dutta)
   5. Debt Financing & Management: Oversee all activities and documentation related to ensuring financial closure of debt facilities by the banks. Ensuring all disbursements from banks happen on time, management of cash flows to ensure debt servicing, and term loan repayments, and engage in any re-financing as and when it becomes necessary. Have strong network with banks in the country. This will also include management of TEV requirements that banks will need for bankability of projects for which we seek financing
   6. Equity Financing & Management: Oversee all activities related to valuation, equity raises, with strong idea of and experience in capital markets, networks and ability to drive an IPO if one were to become feasible