Punjab Inc: Meet the man behind one of the top 5 solar companies of India

I am Simarpreet Singh, an Indian entrepreneur with a strong passion for building a sustainable future for India. Currently, I serve as the Executive Director of Hartek Group, a leading Power and Renewable infrastructure company based in Mohali. Additionally, I am proud to be the Founder and CEO of Hartek Solar, which is ranked among the top 5 rooftop solar companies in India. Our mission is to partner with industries, buildings, and institutions to help them achieve their sustainability and ESG goals. I hold degrees in electrical engineering, an MBA from SPJIMR, Mumbai, and an Executive MBA from Harvard Business School.

Company Inspiration

My decision to start Hartek Solar was greatly influenced by a transformative encounter with Bharat Ratna Dr. APJ Abdul Kalam in November 2011. Dr. Kalam inspired me to focus on building in India and dedicate my life to sustainability and clean energy. During our meeting, he emphasised the importance of providing clean energy and clean drinking water to every household in India, which sparked my interest in the power and renewable sector. I firmly believe that renewable energy holds the key to achieving a net-zero transition, decarbonization, energy security, and mitigating climate change. Hartek Group stands out by offering comprehensive power and renewable solutions, spanning from large-scale substations to rooftop solar installations, as well as manufacturing power distribution panels. We cater to a wide range of customers, including utilities, industries, buildings, data centers, and power plants, enabling them to meet their power requirements effectively.

My accomplishments

Over the years, I have been fortunate to receive recognition for my work globally. Some of my notable accomplishments include:

– Named in Forbes’ 30 under 30 Asia achievers in 2019.

– Honoured as Pride of India in Chicago, USA, by GSA@75 India for my contributions to Clean Energy & Sustainability.

– Recognised as The Young Role Model of India’s Net Zero Mission for Clean Energy at the “Mahindra Rise Sustainability Champion Awards.”

– Listed among the Top 100 most Powerful and Influential Sikhs worldwide.

– Identified as a 40 under 40 business leader by SQ.

– Received the Entrepreneur of the Year award by SPJIMR.

– Honoured as one of the Top 100 most powerful solar business leaders by SQ.

– Engaged in impactful speaking engagements, including three TEDx talks.

– Inspired and motivated young entrepreneurs through speaking engagements at renowned colleges such as IIM, SP Jain, Narsee Monjee, and PEC.

The challenges

Building a sustainable business in the renewable energy sector comes with its own set of challenges. Some of the key challenges I have faced include:

– Overcoming regulatory and policy hurdles: The renewable energy industry is heavily influenced by policies and regulations. Navigating through the evolving regulatory landscape and addressing policy challenges is essential to ensure a conducive environment for growth.

– Access to financing: Financing renewable energy projects, especially in the early stages, can be challenging. Developing innovative financial models and building strong partnerships with financial institutions has been crucial in overcoming this hurdle.

– Scaling up operations: As the demand for renewable energy grows, scaling up operations while maintaining high-quality standards can be challenging. Establishing robust processes, attracting and retaining skilled talent, and optimizing resource utilization are essential to achieve sustainable growth.

– Technological advancements: Staying at the forefront of technological advancements is vital in a rapidly evolving industry. Continuous research and development, as well as strategic collaborations, help us address the ever-changing technological landscape effectively. Despite these challenges, I see them as opportunities for growth and innovation, and they have fueled my determination to make a meaningful impact.

Future plans

Looking ahead, our focus is on expanding our presence in the renewable energy sector and driving innovation in solar solutions. We aim to leverage emerging technologies such as energy storage and hydrogen to enhance the integration and utilisation of renewable energy sources. We are committed to playing a significant role in achieving India’s clean energy goals and contributing to a sustainable future. This includes working towards our vision of providing clean and affordable energy to communities, businesses, and industries across the country. We envision Hartek as a complete sustainability and decarbonization partner to our customers and aspire to be one of the leaders in this historic energy transition towards renewables and net-zero.

Expectations from the government

As a renewable energy entrepreneur, I believe the government plays a crucial role in creating an enabling environment for the growth of the sector. I have the following expectations from the government:
– Stable and consistent policies: Providing long-term policy stability and predictability is essential for attracting investments and fostering business growth in the renewable energy sector. Clear guidelines and regulations can help reduce uncertainty and facilitate smoother project execution.

– R&D support: Government support for research and development activities can accelerate technological advancements and drive innovation in the renewable energy sector. Funding and collaboration opportunities can help nurture indigenous solutions and enhance the competitiveness of the Indian renewable energy industry.

– Infrastructure development: The government’s focus on developing robust transmission and distribution infrastructure is crucial for the efficient integration of renewable energy into the grid.

– Collaboration with industry stakeholders: Promoting collaboration between the government, industry players, research institutions, and academia can foster knowledge-sharing, accelerate innovation, and address sector-specific challenges more effectively.

My stress-busters

While building and managing a company can be demanding, I prioritise maintaining a healthy work-life balance. Some of my stress busters include:

– Quality time with family and pets: I cherish spending precious moments with my family, as well as my beloved pets, especially my dogs. Being surrounded by their love and positive energy rejuvenates me and provides a sense of peace and relaxation.

– Physical fitness and the joy of cricket: I am an ardent lover of the sport of cricket. Playing this game, along with regular exercise and sports activities, is crucial for both my physical and mental well-being. I ensure that I dedicate time to maintaining my fitness levels and include cricket in my routine, as it brings me immense joy and a sense of fulfillment.

– Pursuing hobbies: I enjoy reading books on a wide range of topics, particularly those related to renewable energy and business. It helps me stay updated and stimulates new ideas.

Last, but not the least, I make it a point to connect with nature.