Sustainability

Specific Standard Disclosures

Social Performance

We at Greenko are committed to sustainable development at all our facilities to the satisfaction of our stakeholders while fulfilling our economic, environmental and social responsibilities. Social Responsibility being one of our core values, we align our community activities through regular stakeholder engagements resulting in inclusive growth.

Our Community

We are committed to bring in good environmental and social practices through our CSR initiatives. We have an established and dedicated team for implementing CSR activities and aligning them to our business strategy, vision and mission.

Our core focus areas under CSR are:

Education

To ensure access to equitable and quality primary and secondary education leading to relevant and effective learning outcomes in rural communities.

Healthcare

To provide access to quality healthcare to the rural communities close to our operations.

Rural development

To improve the living standards of rural people in an equitable and sustainable manner through creation of community services and facilities.

Environment

To ensure that our activities respect, promote and advance internationally recognized environmental principles and commitments.

CSR focus areas


2020 CSR Goals

We are constantly working towards the CSR targets and goals set for 2020. Below are the goals set under various focus areas.

Education - To be able to make a positive difference to about 15,000 students through our interventions inGovernment run schools near our Projects and Plants.

Healthcare - To be able to bring access to quality Health care to over - 50,000 people near our Plants.

Rural development - To be able to improve the living standards of over 1,00,000 people mainly by way of improving the basic amenities and rural infrastructure in the neighbourhood villages of our Plants.

Environment - To be able to undertake at least 2,00,000 trees plantations in and around Plant areas and neighbourhood villages and support the natural resources management.

Appointing School Teachers

Greenko as part of its CSR interventions in the neighbourhood schools has supported the Government High School at East Kodipalli Village, Kalyandurg Mandal, Anantapur District Andhra Pradesh by providing additional school teachers. After an appropriate due diligence and stakeholder consultations and as per the Education Department, Government of Andhra Pradesh orders Greenko has appointed 5 teachers to teach for higher classes for two years.

Our efforts are geared towards bringing cumulative improvements in the above focus areas to communities near our facilities by progressive interventions to create value.

In 2016-17, we have organized 35 programs, of which 15 medical camps, 10 programs for the development of education of children, 4 programs focused on rural development activity and 6 programs focused on environment related activities. These programs are need based and helpful to the communities. Over 11,941 people benefitted from these 35 programs. These progrmmes were in line with our 2020 CSR Goals. The sector wise programs and number of beneficiaries is elaborated and presented in the following sections.

Number of Beneficiaries

Education

Our prime objective under this sector is to provide access to quality education in the Government managed schools located in the neighborhood communities. This is expected to be achieved through a meaningful and fruitful dialogue with the Government run schools to bring about sustainable improvement among the students. As a priority for the reporting period we have provided some of the basic necessary services to the school authorities like equipment for science/computer labs, and other basic infrastructure items. Some key areas of our intervention include the appointment of school teachers for upper primary school, providing infrastructure like benches, printers and inverter etc. About 1058 children from different schools benefited from our educational initiatives that are located around our project sites and plants.

Community Skill Development Program

The Ministry of New Renewable Energy, Government of India has taken an initiative to install 100 GW solar projects by 2022. In order to achieve this mission more than 50,000 skilled manpower are required for installation, commissioning, operation and maintenance in the field of solar technology.



Recognizing the need and urgency, National Institute of Solar Energy(NISE) has launched Suryamitra Skill Development Program in collaboration with State Nodal Agencies at various locations across India.

Under this scheme Greenko has introduced a Solar Skill Development Certification Program for 280 ITI students of the local communities in Kurnool cluster at Ghani Solar Park with a vision to enhance their skills for employability. Greenko has provided employment to over 100 trainees of Suryamitra Skill Development Program.



Healthcare

To provide access to quality health care we have organized free general medical camps and eye camps at some of our plants located across India in association with local hospitals. Our objective is to bring quality and specialized healthcare to the communities close to our operating plants as well as project sites across the country. We have been organizing these camps at least once in a year at our operational plants. A total of 2097 people participated in these medical camps and benefited from the free diagnostic, treatment and free medicines services. A notable achievement is the Diagnostic, Screening and Treatment (DST) Eye Camps conducted at our Hydel Plants in Himachal Pradesh.

Health Camp at Hatkoti Site
Eye checkup camp at Palampur Cluster


DST Eye Camp

Greenko considers providing access to health services in remote areas as a priority. As part of its health related CSR activities, a Diagnostic Screening and Treatment (DST) Eye Camp was conducted at Village Deol, Tehsil Baijnath, District Kangra, Himachal Pradesh. The main objective of the camp was to provide medical eye care service to the local community unreached with these services and provide surgical eye care service to the patients diagnosed with cataract and other refractive errors to eliminate avoidable blindness. The eye camp covered the residents of nearby 10 to 15 villages falling under project Panchayats of 4 Hydel Plants.

The Eye Camp was organized in association with Mela Mal Sood Rotary Eye Hospital, Maranda, Palampur. A seven member professional team including eye specialists technical staff has provided their services at the Eye Camp. The diagnostic and screening camp covered screening of the eyes using the necessary equipments and for refractive errors were examined for vision test. The patients diagnosed for cataract & other eye surgeries were examined in detail by other technician for general health condition including Blood Sugar (Diabetes), Blood Pressure (Hypertension) etc. Other patients requiring minor treatment were given specific medicines such as eye drops free of charge for ophthalmic diseases.

A total of 354 people availed the services of the screening camp and out of the total screened about 45 of them were selected for cataract & other eye surgeries. The surgeries were undertaken at Rotary Hospital, Palampur and Greenko took the responsibility of all the costs of surgery, post-operative medicines for the patients Hospital Authorities had provided accommodation at the Hospital free of charge. Post-operative follow up activity was organized for the needy patients by the Hospital authorities.

Rural development

We initiate rural development programs in consultation and coordination with local panchayats. After assessing the various short term and long term needs of the local communities, such as clean drinking water, availability of infrastructure like roads, street lighting, sanitation facilities etc. and based on the inputs received from the local stakeholders we design our interventions for rural development projects.

RO plant at Narayanapuram Village


A key project during the reporting period included the construction and maintenance of Reverse Osmosis (RO) plants commissioned in Cholasamudram Village, Kudair Mandal, Ananthapur District, Andhra Pradesh State. The RO plant provides safe drinking water to the local villagers. Under the rural development initiatives in addition to the RO plants, considering the acute drought conditions prevailed, some of the other initiatives like digging of bore wells, construction of open wells etc. were undertaken at the villages near our plants.

Environment

Under the environment initiatives a total of 6 activities were undertaken in the reporting period. A significant activity among them is the plantation program conducted at Devarakonda, Bukkarayasamudram Mandal, Anantapur District, Andhra Pradesh.

Tree Plantation at Devarakonda Village


The plantation program was undertaken as part of the 67th Vanamahotsavam (Part of Vanam-Manam) a mass Plantation Program of the Government of Andhra Pradesh.

The tree plantation program was held at identified locations on a local hill close to a famous temple at Devarakonda. The plantation type was a Block Plantation and a total of 12000 saplings were planted with the help of students from the local schools. Other activity under this focus areas included environment day celebrations at plant locations and advocacy programs for natural resources management.

Reverse Osmosis (RO) Plant installation

Rural Development is one of the important focus areas under "Sustainable Development" interventions of Greenko Group. Under this program and to provide "safe drinking water" to the local community a RO (Reverse Osmosis) plant has been installed at Goridindla Village under Rayala Wind Power Company Private Limited. The village is in Atmakur Mandal of Ananthapur District in Andhra Pradesh. It is situated at about 6 km away from Atmakur and about 34 kms away from Anantapur.

After necessary stakeholder's consultations, the RO plant was setup in the Goridindla main village at a strategic location easily accessible by the local people. A separate room has been constructed for installing the facility. The plant has the capacity to purify and provide 2,000 litres of safe drinking water per hour to the local people. Over 2,000 people covering 450 families residing in Goridindla main village and Goridindla Tanda (Tribal hamlet) are expected to directly benefit from the above facility.

By extending the core objectives, Greenko is moving ahead to meet pivotal activities towards community on regular basis under sustainability development. In this process, an RO Plant was installed at Cholasamudram, a community village near to the Rayala Wind Power Plant.

RO Plant at Cholasamudram

Our Human Capital

Greenko has a HR Policy handbook for employees, comprising of various policies and the salient features of these policies is explained through an orientation session at the time of induction program for new hires. All the HR policies are a part of Greenko Integrated Management System (GIMS) and the implementation of these policies is monitored by the HR team and has periodic audits.

The Leadership & HR teams travel across the project locations and plants to conduct team meetings and town halls to engage with the employees of the location and to address their questions and concerns, if any. HR & Leadership Teams travelling to the sites stay with the employees and spend quality time engaging with the employees on various matters.

Employees at sites are provided accommodation facility with requisite infrastructure for recreation and entertainment. The canteen provides good food with breakfast, lunch and dinner served in unlimited quantity in the designated cafeteria. There are committees for Canteen and Safety comprising employees in the site location who have freedom to decide on the menu for food and needs of any additional safety. The accommodation facility with good infrastructure and food is at a cost totally borne by Greenko and provided

Employee Details FY(2016-17)
Male in No's Female in No's
Total workforce 1845 79
Total person hours training 36951 5074
Total new hires 661 34
Average training hours per employee 21.84 hrs
Employee details


as a benefit for employees across projects and plants. In addition to the benefits applicable as per various Welfare Acts, Greenko provides the families of the employees with benefits of Group Health Insurance, Educational Support and Personal Accident coverage for the employee.

Employment

We believe that only when our internal stakeholders are satisfied, we can deliver quality services to our customers. We provide a host of benefits to our employees. All our employees are covered under the ESI, EPF, Gratuity and other applicable Acts. Some of the other benefits that our full-time employees enjoy are Group Personal Accident cover, Group Medical Insurance Cover, Maternity Leave and Extraordinary Leave.

Diversity and equal opportunity

We are an equal opportunity employer and have a zero tolerance policy for any form of discrimination on the grounds of race, ethnicity, gender, sexual orientation, socio-economic status, age, physical abilities, religious beliefs, or other human attributes. All our female employees enjoy the same benefits as their male colleagues. However, based on business requirements, we target a local talent pool with knowledge of the local language and geographic conditions for certain specific positions.



Women's Day Celebrations at HO


Talent & Career Management

Greenko has natured to nurture the talent as a philosophy and with a strong orientation towards its employees, being the key stakeholders.

Greenko cares for the career growth of employees both within and across functions. This is done with a conscious effort to develop employees on multiple competencies to sustain and augment their career beyond livelihood as an objective, which encompasses the mechanics of Talent Management.

Each of the businesses (Hydro, Wind & Solar) have a Career Matrix for trainees and experienced employees weighing their performance and potential into two tracks of career plans as Normal Track & Fast Track Career Progression.

The unique Career Management strategy of Greenko is a personification of its Talent Management with higher levels of retention of employees in the industry. Greenko promotes the concept of multiskilling and multi-tasking across functions and in the areas of Engineering Designs, Project Management, Operations & Maintenance, Instrumentation & SCADA, etc. The organization has grown with strong orientation towards skill development and enhancement of its employees from various businesses wherein employees are trained in multiple domains and technologies promoting significant progress and movement across the businesses, aligning with a pipeline of projects in Hydro, Wind & Solar. For instance, most of the employees from biomass plants, which are not viable to operate given the business economics of the biomass industry have been trained with skills from other verticals (Hydro, Wind & Solar) to ensure sustainable career growth of its employees.



Career Management is an integral part of the Performance Management process; the developmental needs are captured through the annual appraisal cycle. The Training Needs Identified (TNI) are classified as Technical and Behavioural needs and the annual training calendar addresses the appropriate training interventions for the identified training needs. The performance and potential of an employee is captured and based on the potential and given the significant contribution towards deliverables, the next level growth plan is envisaged in consultation with the Line Managers and Business and Functional Heads. Career Progression based on potential is managed to be a part of cross functional teams or into other domain areas. For example, engineers are trained in multiple domains (Hydro, Wind, and Solar) to be competent, quality management team across the businesses which is a classic example of moving from engineering function to quality function.

Over 40% of the critical middle management teams are identified and groomed from the existing list of HIPOs based on the performance across the businesses. Majority of the employees working in verticals such as Wind and Solar have been moved from Verticals of Thermal and Hydro.

Greenko is an equal employment opportunity employer with fair distribution of workforce with no bias for gender.

Performance Management & Recognition

The Performance Management process has been conceived with significant objectivity, measurable goals and KRAs for employees across all levels. The PMS is designed with measurable metrics with 50% weightage for Greenko Value System (SEED IT) and 50% for the Business and Functional KRAs. The Value System must be complied with and adhered to while achieving the business goals and KRAs. The appraisal system provides for evaluation of performance against the KRAs assigned and the level of potential of the employees. The line manager reviews the performance followed by the other reporting managers at the cluster and business level, culminating in a final review by the Business Head. The multiple levels of review and discussion provides ample opportunity for objective assessment of performance.

Rewards & Recognition

The Appraisal period is from April to March, Employees who have completed at least one year of service from the date of joining will qualify for the appraisal. Based on the performance of the individual, the business unit and the organization annual merit increases are given as a percentage to Cost to the Company (CTC). Greenko has one of the best practices of recognizing the employees beyond regular merit increases through Ex-Gratia pay-outs for the performance of the employees in Projects, Plants & other offices.

Special bonus for project completion and for achieving significant milestones is also one of the best practices at Greenko.

All employees are also given Greenko branded goodies periodically.

Labour Welfare and Human Rights

We have established policies and codes of conduct across all SBUs on human rights and labour practices. Given the type of service provided by Greenko Group of companies, no risks connected with child labour, threats to freedom of association or forced labour were identified in reporting period.



Training and Education

The Council on Energy Environment and Water and the National Research Development Corporation project that utility and park scale PV projects through 2022 could create 58,000 direct jobs in India. Our success depends on the sustained commitment of our employees who are provided with every opportunity to realize their potential and augment their career as the organization reaches greater and new heights. We take pride in ourselves on our highly motivated and engaged workforce. Employee engagement, training as well as career development are strategic and key imperatives for us, bearing a direct impact on service delivery and customer satisfaction.

Greenko Group - Learning & Development (L&D):

The L&D function has evolved with a Vision to build & enhance employee competencies for consistent deliverables to drive the business growth. The Mission of the L&D division is to develop a Learning Organization with a value add and ROI (Return on Investment) for the businesses. To measure the impact of training for ROI we follow Kirkpatrick Model.

L&D organization at Greenko:

  • Inculcates an ownership mind-set amongst employees to achieve the Vision & Mission of the organization
  • Facilitates need based continuous learning of employees and stakeholders
  • Has well defined learning processes and practices
  • Develops Managerial and Leadership skills and Talent
  • The Learning & Development activities at Greenko focuses on the following streams:
  • Orientation & Induction for New Hires
  • Entry Level Trainee Program (ELTP)
  • Need based Training and Development Interventions
  • Training of Contractual Employees

Orientation & Induction for New Hires

The New Hire Induction is held at HO for all new employees joining the Corporate Office and for employees directly reporting to the site the same process is followed. The topics covered during this induction include HR Systems & Policies, Greenko Values System, EHS (Environment, Health & Safety), GIMS (Greenko Integrated Management Systems) and ISMS (Information Security Management Systems).

SEED IT Orientation Workshop


Entry Level Trainee Program (ELTP)

At Greenko we consider Trainees as 'Future Talent'. Greenko invests significantly in the ELTP program which hones and develops the skills of trainees who have joined directly from campus or have no relevant work experience. Based on the feedback of the assessment panel, the L&D needs are profiled for the period of training. The campus hires (Masters, BTech, Polytechnic, ITI & other Management streams) join as Trainees and go through a structured learning process. ELTP comprises of classroom training on domain skills, on the job training (OJT), soft skills and outdoor learning sessions. During this period of one year training, trainees with a technical background are coached and mentored by supervisors and Department heads in the branches of Mechanical, Electrical and Civil Engineering. Each of the trainees is assigned to a Mentor for a period of one year. Their learning is documented in the Trainee Orientation Program Diary were they meticulously capture learning on a daily/ weekly/ monthly/ quarterly basis, which is reviewed by the Line/ Reporting Manager.

On completion of one year training, there is a presentation done by the trainee to a panel of experts to evaluate the level of learning during the year and for a recommendation to confirm the services from the level of trainees. It is mandatory for all trainees to achieve a minimum of 80% score in all the three domain streams during the one year training duration.

Significant resources and time are invested in these trainees for upskilling and development during this period of training, to harvest the future talent.

23 High Performing and High Potential Trainees were identified from the list of 168 trainees in the FY 2016-2017, for a fast track training in domains of Hydro, Wind, Solar and engineering areas (Civil, Electrical & Mechanical). They were subsequently deployed for crucial quality assurance work across the projects. Identified High Potential employees are also sent for external training programs/ conferences in India and other international locations including Spain, China, Europe and the United States of America.

Employee Training/ Learning

For employees training begins with the Training Need Identification (TNI) in the month of April with input from SBU Heads/ SBU HR and the respective employee. Based on the business need & individual growth map we identify High, Medium and Low priority training requirements in Domain, EHS, Mandatory Programs, Behavioural & any other niche skill/s required to accelerate the performance and output of employees. On completion of the TNI the training calendar is designed based on the level of priority and training is scheduled in the annual training calendar. The learning curve through the training imparted by means of class room sessions, On the Job Training (OJT), external training, if need be.

For all in-house programs we have highly experienced domain specialist/trainers and for niche skills we send employees to external training institutes nationally and internationally. It is mandatory for the In-House program to have a pre-assessment and a post assessment feedback we receive participant suggestions on how to continuously improve. Post two months post training we conduct a 360 degree feedback from each participants stake holders on how the employee has been able to implement their learning.

Training on Grow Coaching


We send high performing employees to National & International Conferences, IIM's, ISB, XLRI, China, The USA, Europe, and Singapore to acquire / learn new technologies, processes and systems. On their return these employees capture their learning in a power point presentation and share these learnings with their team through training/ mentoring session. We have also initiated the setup of Centre of Excellence at the cluster level to ensure that learning is a continuous process. A Centre of Excellence will include a technical Lab, fully furnished dedicated training rooms, a library and access to all significant learning data through a Knowledge Management & Knowledge Sharing system. Virtual Learning has also been initiated which will add incredible value to learning and upskilling of employees.

We have achieved 42,025 person hours on training. The average training hours per employee was 21.84 hours. Training our employees across the levels is an objective agenda for the L&D department, however based on the Training Need Identified from the businesses. This gives us an opportunity to connect with our employees and understand their viewpoints and suggestions on training requirements. The purpose of our training module is to bridge the KSA (Knowledge, Skill & Attitude) gaps based on the identified training needs and to ensure employee capability building and enhancement of organizational competencies through continuous improvement of:

  • Individual employees knowledge and skills
  • Development of managerial, behavioural and other personal attributes
  • Technical and specific niche skills
Teambuilding Training

Grow Coaching Training


Occupational Health and Safety

The nature of our operations demands a strong focus on the health and safety of our employees. We aim to regularly enhance our internal safety systems through functional & behavioural trainings and safety awareness programs, to sensitize our employees about criticality of safety measures. We have implemented a an effective Environment, Health and Safety (EHS) governance by focusing on the core areas as described below.

We train our employees/workers regularly to enrich safety awareness and ensure safe working environment at all work locations. We conduct relevant training programs for the executives to enhance their knowledge and skills.

Leadership & Accountability

Each Greenko facility has Health and Safety leader, specialist in the fields of safety at work, industrial hygiene, ergonomics, applied psycho-sociology and health monitoring. Leader along with team will also overlooks the applicable outsourcers, purchasing, and supplier under the monitoring of site In-charge & central EHS team.

We have established EHS committee at all our projects and plants to ensure EHS compliance at the work locations. Monthly interactions are held to review and document EHS performance, status on EHS commitments and EHS risk prevention measures.

EHS Training

We train our employees and workers regularly to enrich safety awareness and ensure safe working environment at all work locations. Internal training:

We have made a list of Training programs to be conducted in a Calendar Year and provided relevant "Training Modules" to the Executives so as to enable them to organize the training programs in effective manner. In addition to this we have circulated soft copy of "Animated Safety Videos" to site teams to be used as resources for the training sessions .

Some of our regular in-house trainings are on

  • GIMS policy, Procedures, code of conduct, EHS Orientation & Tool box talks
  • Behaviour Based Safety
  • Office Safety & Ergonomic Safety
  • Road Safety (Two / Four-Wheeler)
  • Electrical safety
  • ERP Heat Stress Management
  • Fire Safety & Housekeeping
  • Awareness on First Aid Treatment
  • EHS Aspects and Impacts
  • Conservation of Resources

We organize training by external agency on different topics like operation of portable fire extinguishers, working at height & applicable laws for the executives to enhance their knowledge and skill. We regularly conduct EHS orientation as a part of new joiners induction orientation training program at our corporate office and our plants.

OHS Focus Areas


Risk Assessment & Prevention

We conduct Hazard Identification, Risk Analysis and Environmental Aspect Impact Analysis to identify, analyse and mitigate the OHS and Environmental risks. We conduct "Work Place Inspections" bimonthly and observe the unsafe acts and conditions for continual improvement of work place safety. We ensure 100% compliance with the observations noted against various hazards & EHS work place inspection report. We have initiated traffic signage at all projects and plants to eliminate risks pertaining to road safety. We organize "Road Safety & Defensive Driving" training sessions across the business verticals to bring down the accident rate of construction vehicles.

EHS Compliance Management

Health and Safety Regulations: Compliance System has a comprehensive list of applicable statutes and the various items of compliance are monitored for traction through the compliance tool. The compliance status goes through a robust process of auditing through an authorized audit team every month and a certificate of compliance is presented to the Chief Compliance Officer. At Greenko, the goal is to deliver 100% compliance with regulations of product and service.

We make constant efforts with our plant in-charges to be compliant with legal and statutory regulations.

Emergency Preparedness & Response

We ensure that our Emergency Response Plan (ERP) is available at all the projects and plants considering the various emergency scenarios that may occur during our operations. We organize mock exercises to familiarize our employees with emergency response procedures.

  • Fires: Fire at fuel storage, Trash catching fire, diesel fire, cable fire, electrical fire in panels, transformer oil fire, Fire in administration building, LPG cylinder catching fire etc.
  • Explosion: LPG cylinder explosion, air receiver cylinder bursting, Explosives handling
  • Leakage of toxic or combustible gases
  • Spillage of acids/chemicals/ flammable liquids
  • Drowning in the water bodies
  • Road accidents
  • Cave in / Structural collapse
  • Tower crane / mobile crane / crawler crane collapse, scaffold collapse
  • Bomb Threat
  • Natural calamities
  • Snake bite / scorpion / poisonous insect
  • Electrocution
  • Heat Stroke

Personal Protective Equipment (PPE) Program

Protecting the health and welfare of each employee and to strive towards compliance with National, state and local regulations, appropriate PPE is required in areas where there may be a risk of injury or exposure to hazardous substances or conditions. This program addresses general requirements to protect employees from various hazards encountered in their work area.

Demonstration on Usage of PPE


The PPE Program consists of three main areas:

  1. Hazard assessment of the workplace and procedures (identifying hazards and determining which PPE will protect the employee)
  2. Employee training (when PPE is required, proper use of PPE, limitations, cleaning and storage)
  3. Written verification of hazard assessments and employee training. Procurement, receipt, storage and issue of PPE, firefighting equipment and other OHS related material.
  4. We procure PPE conforming to BIS and maintain stock as planned & regularly inspect as per requirements by safety leader at site & confirmation by central team at HO. This ensures that PPE are kept operational at all times.

    EHS Contractor Management

    We at Greenko are committed to the management of health and safety for all employees working on or behalf of us, working in sites or in the public domain. The four key areas of contractor management are: Contractor Pre-qualification, Contractor Selection, Mobilization and Contractor Performance Evaluation. The Contractor, health and safety management systems assist Owners, Prime Contractors and Contractors to develop effective implementation of processes Our management systems are designed to help promote a collaborative working relationship among greenko, Prime Contractors and Contractors, resulting in improved health & safety and productivity for all parties involved.

    EHS Audits

    We conduct internal/external audits at all project/plant locations and identify the deviations and non-conformance. We strongly believe in developing "Safety culture/Safe working environment" across all the projects and plants.

    Prize distribution at EHS Event


    EHS Rewards & Recognition

    We encourage our employees and workmen to voluntarily participate in various EHS awareness campaigns to establish congenial working environment. Our Rewards & Recognition Award Program is to acknowledge and reward outstanding individual and/or team contributions that promote stronger safety culture or identify, prevent, or correct safety related issues at Greenko. We observe the following EHS wise important days:

    • National safety day/Week
    • World environment day
    • Fire services day
    • Spot the Hazard Competition

    EHS Performance

    We established EHS committee at all our projects and plants to ensure EHS compliance at the work locations. We interact once in a month to discuss EHS performance and commitments.

    Safety day celebration at project site


    Parameter Aditya Shakti Sunborne Energy Greenko Rayala Wind Farm Tanot Wind Farm AMR Hydro Greenko Budhil Hydro
    Fatalities 0 0 0 0 0 0
    Lost Time Incidents (LTI) 0 0 0 0 0 0
    LTI Frequency Rate 0 0 0 0 0 0
    LTI Severity Rate 0 0 0 0 0 0
    Near-miss Incidents 0 0 11 5 1 7
    Workplace safety details at plant sites


    Security Systems

    Greenko continues to invest in its business functions to meet the needs of our growing organization. The Group has put in place Greenko security system (GSS) to take the ownership of physical security. The system takes care of threat and risk assessments, vulnerability and counter measure analysis. We monitor the material movement at our project sites through our online application Greenko Energy Project System (GEPS). This application, installed on a tab enables GSS team and the Project management team to receive continuous tracking and status information of the material movement.

    The Integrated electronic surveillance at Greenko Group functions on multiple window design principle providing live monitoring & recording reviews on 24/7 basis to central Security Control Room located at HO in Hyderabad and site based security control room. All site activities are continuously monitored by both the monitoring stations to provide instant response.

    GSS Core Team Meeting at HO


    Central Security Control Room at HO

Environmental Performance

Greenko owns and operates clean energy projects and as a responsible corporate, the Group business is driven towards addressing the challenge of climate change. In our operations we endeavour to integrate biodiversity and environmental protection measures in our decision making process.

We as a growing Nation are straddled with challenges, however two issues that are on top of the Government agenda are

  1. Climate change.
  2. Local employment.

Renewable energy sector in India is uniquely positioned to enable the local economy to address both these challenges. India's Nationally Determined Contributions as per the submission to COP Paris Summit include to

  1. reduce the emissions intensity of its GDP by 33- 35% by 2030, from the 2005 level.
  2. achieve around 40% cumulative electric power installed capacity from non-fossil-fuel-based energy resources by 2030.
  3. create an additional carbon sink of 2.5-3 billion tonnes of CO2 equivalent, through additional forest and tree cover by 2030.

It is evident from these commitments that India's renewable energy sector is expected to play a key role and recent initiatives by the Government of India, such as the Smart Cities Mission and the announcement of ambitious renewable energy targets present significant opportunities for future growth.

Greenko Group is driven towards contributing to the National issues and to ensure that Greenko's activities respect, promote and advance internationally recognized environmental principles & commitments, Greenko has put in place Greenko Integrated Management Systems (GIMS) and corporate EHS functions. The objective is to establish Greenko as the most admired Group in Indian Energy Sector by demonstrating and complying with International standards. Greenko Group strongly advocates precautionary measures to be carried out throughout the project life - from pre-construction, construction and operations. For the purpose of monitoring we have put in Environmental management system and got few sites certified under ISO 14001:2015 standard for "Operation and Maintenance" activities.

Moreover, Greenko has established Environment and Social Management System (ESMS) as per the requirements of IFC performance standards.

The ESMS includes the following strategic plans:

  • Environmental and social risk assessment
  • Stakeholder engagement
  • Resource efficiency and pollution prevention
  • Community health, safety and security
  • Biodiversity conservation and sustainable management
  • Emergency response & preparedness
  • Monitoring and reviewing of ESMS performance

The details regarding the safety aspects have been covered in the 'Social' chapter of this report.

Greenko Group's ESMS Plan

Energy Management

Sustainability is at the core of our business strategy to provide for our customers' growing energy demands. In our operation, we achieve this by maintaining high levels of energy efficiency for our power generating stations and increasing our renewable portfolio through a mix of Greenfield growth and acquisitions. Over the next few years, we will focus on continuing our energy efficiency initiatives, modernizing our intervention strategies and implementing new demand response measures.

By ensuring high levels of average PLF (Plant Load Factor) and plant availability we are able to cater to the growing load in an optimum manner. The chart below depicts the PLF and the percentage availability of our six plants considered in the reporting boundary.

Some of the common energy efficiency initiatives/ programs across our project sites include:

  • Use of energy efficient CFL & LED lighting
  • Regular maintenance of the auxiliary equipment's
  • Awareness training on energy conservation
  • Operational management of hydro plants- arresting water leakage through proper Grouting work in power house avoiding operation of pumps
  • Commissioning energy efficient 5-star rated ACs
  • Lighting controls automation with installation of outdoor light sensor timer
Particulars Unit 2016-17
Energy exported MWH 1035974
Auxiliary consumption MWH 2890
Energy imported MWH 2041
Diesel consumption Litres 2470

PLF and PAF

GHG emissions and Climate Change

The global warming contributes to and accelerates, aggravates the climate change impacts. Thus, as responsible businesses, it is desirable to monitor and make efforts to reduce the GHG emissions from business operations. The global community has agreed on limiting the global temperature rise within 1.5-2°C compared to pre-industrial temperatures. Traditionally, economic development has been closely correlated to a higher energy consumption and therefore the increase in GHG emissions.

In 2008, the Government of India released 'India's National Action Plan on Climate Change'. Through this, India has identified specific sectors for the GHG emission mitigation. In 2014, the 'Expert Group on Low Carbon Strategies for Inclusive Growth' under the Planning Commission has also published pathway to reduce the emission intensity of country's GDP by 20 to 25 percent, over 2005 levels, by 2020. India's Intended Nationally Determined Contributions (INDC) details the actions towards the voluntary goal of reducing the emissions intensity of its GDP by 20-25%, over 2005 levels, by 2020. The emission intensity of India's GDP has decreased by 12% between 2005 and 2010. United Nations Environment Programe (UNEP) in its Emission Gap Report 2014 has recognized India as one of the countries on course to achieving its voluntary goal. This achievement is mainly due to aggressive Renewable Power generation during 2005-2010. It is essential that the country has to continue the rate of growth, if not accelerate the growth of renewable energy program, to achieve the 25% reduction by 2020 target.

Renewable energy can help mitigate this correlation, contributing to sustainable development. It can also be enabler for other benefits such as:

  • Promote social and economic development through improved access to energy
  • Reduces its negative effects on the environment and health as compared to fossil fuels

Greenko Group is a mainstream participant in the growing Indian energy industry and a market leading owner and operator of clean energy projects in India. The Group is building a de-risked portfolio of wind, solar, hydropower and clean energy assets within India and intends to increase the installed capacity it operates by developing new Greenfield assets.

As this is our first report, this year's performance will be taken as the baseline for the future reports. The details of Scope I and Scope II emissions of reporting plants are presented below:

Particulars Unit 2016-17
Scope 1 Direct GHG Emissions - Diesel consumption from generators kg 6662
Scope 2 Indirect GHG Emissions - Electricity Imported kg 1581000


Clean Development Mechanism

As part of the Group's commitment to responsible business practices, the group has till date registered 21 Clean Development Mechanism (CDM) projects with UNFCCC. These include 5 biomass, 13 hydro and 3 wind power projects, generating a total of 15,90,560 Certified Emission Reductions. We have estimated our CO2 emissions from our operations following the standard of Green House Gas Protocol (GHG Protocol) and using as a reference the emission factors provided by the IPCC. This is fundamental step in ensuring that environmentally responsible companies effectively contributing to the process of reduction of greenhouse gases.

In addition to its contribution to CDM projects, Greenko Group with its operational 2.65 GW of renewable energy projects, has generate over 8.5 billion units of clean energy thereby avoiding approximately 6.9 million tonnes of CO2 the details of which are shown below:

1 Estimated annual generation from 2.65 GW installed capacity 8 .5 billion kWh
2 Indian grid's average emission factor 0.82 t CO2/MWh(Source: CEA - CO2 Baseline Database for the Indian Power Sector, Version 11.0, April 2016)
3 Annual CO2 emissions avoided 6.9 Mn tCO2


Material Consumption

As an environmental conscious group, none of the operations use Polychlorinated Biphenyl (Persistent Organic Pollutants, POP) as well as Volatile Organic Compounds, (VOC)

Particulars Unit Data for FY 2016-17
Batteries Nos. 253
Lubrication Oil Litres 2833
Turbine Oil Litres 14312
Gear Oil Litres 1135
Petrol Oil Litres 419
Transformer Oil Litres 1135
Grease kg 8785
LPG kg 2972
Oxygen cylinder Nos. 41


Waste Management

Greenko Group's management of wastes is based on its Environment and Social Management System that establishes practices to meet the legal requirements along with reducing or avoiding generation of wastes and to re-use or recycle whenever possible. The system governs identification of the waste streams generated in the process of construction and operations & maintenance at project sites and their classification, manner of collection, transport and appropriate final disposal. Greenko carries out continuous control of generation, storage and allocation of wastes to outsourced contractors.

The typical waste items include hazardous items such as paint cans, mineral oil lubricants, items containing thinner, sawdust contaminated with oil, greases, chemical products, air filters, brake pads, cutting waste, oil filters, papers and plastics contaminated with grease/oil, sweepings etc. and typical non-hazardous waste items include plastic, glass, cardboard, paper, iron & iron scrap, etc. Greenko conducts Environmental Education Program for employees and partners, which includes raising of awareness about environmental issues, with a focus on reduction, reuse and recycling of waste.

Hazardous waste
Items Unit FY 2016-17
Waste Oil Kgs 16640
Contaminated absorbents Kgs 134
Contaminated packaging Kgs 0
Used batteries No's 253
E-waste Kgs 1225


Non-Hazardous waste
Packaging waste Kg 35
Paper waste Kg 318
Plastic waste Kg 46
Metallic waste Kg 375
Organic Waste Kg 1206


Water Management

Our operations require water supply for in-house water consumption and maintenance. Most of our plants are located and designed to use water from surface water sources. As water is critical to the environment in Indian geography, water management is very critical and material to our operations. None of our plants/projects create any significant water stress in the areas where we operate.



Water Management Initiatives

  • Sprinkler & dripping system has been installed and maintained in the power house and staff quarters
  • RO plant waste water facilitates to plants and earth pit
  • Rain Water Harvesting System - All the Rain water is diverted through drains to rain water collection pit and that water is reused for gardening purpose
Rain water harvesting system at Wind Site


Biodiversity

In comparison to conventional sources of energy such as coal/ natural gas, renewable power projects typically have minimal impact on biodiversity. Biodiversity assessment is a key aspect of our projects so to ensure that as the project development activities are conducted in a way that it does not adversely impact biodiversity.

Based on the Precautionary Principle, Greenko Group believes that the absence of absolute scientific certainty should not be a reason for postponing effective and economically viable measures to prevent the threat of serious or irreversible damage to the environment or to human health in the procedures for prior license, installation and operation. The Group is cognizant of the importance of native flora and fauna population in the areas adjoining the project sites. Greenko Group carries out Environmental and Social Impact Assessment (ESIA) study prior to the commencement of the operations, in line with the requirements of ten Equator Principles; eight International Finance Corporation (IFC) Social & Environmental Sustainability Performance Standards (PS); and IFC Environment, Health and Safety (EHS) Guidelines for Renewable Energy Projects.

The potential impacts of the proposed projects have been assessed for relevant social and environmental parameters, considering the IFC Performance Standards. The adverse impacts were found to be minimal in most cases. Environmental Management Plans have been prepared to help mitigating any potential adverse social and environmental impacts.

Green belt development covering an area of 300 sq. m. at AMR Plant


Biodiversity assessment is a key aspect of our project planning, implementation and operation. Keeping with IFC's Performance Standard on "Biodiversity Conservation and Sustainable Management of Living Natural Resources" we have outlined a procedure in our Environmental and Social Management System and diligently adhere to it. This procedure is audited by an external party during the ESMS audits.

We have been investing towards environmental conservation/ protection initiatives in the following areas:

  • IMS Certifications (EMS, OHSAS, QMS)
  • Environmental education and training
  • Green Purchases
  • Preservation of Biodiversity
  • Environmental Monitoring Equipment
  • Impact Assessment Studies

Biodiversity Conservation Initiatives

Some of the key initiatives undertaken by Greenko Group towards biodiversity conservation include:

  • Working with the public authorities e.g., forest department to adopt conservation programs
  • Regular tree plantation drives
  • Providing birds nest huts in identified areas for bird's shelter
  • Biodiversity conservation related training and awareness programs for employees
  • Green belt development in and around the plants and project sites
  • Noise mitigation measures has been taken to avoid disturbance to human as well as flora & fauna
  • Fish seeding initiatives at Hydro Plants
Employees participating in fish seeding initiative at AMR Plant


Conserving the habitat of Great Indian Bustard

The grasslands around Rollapadu, a village in Andhra Pradesh's Kurnool district, was declared a sanctuary in 1988 to protect the dwindling populations of the critically endangered Great Indian Bustard. The bustard inhabits dry and semi-arid regions of the country which hold naturally occurring grasslands and savannahs. The decision to declare it as a sanctuary was also to preserve the Rollapadu grasslands, which are critical for the survival of semi-arid and grassland fauna in the Deccan region.

In the recent years, the Great Indian Bustard has been rarely spotted in Rollapadu. Forest officials say they are hardly able to spot the bustards once or twice a year. Not just the Great Indian Bustard, Montagu's harrier-a magnificent migratory bird that travels from parts of central Asia to the sanctuary every winter-has also shown declining trends of its presence. Two decades ago, the bird visited the sanctuary in hundreds. According to a study by the Bombay Natural History Society. In 2016, their recorded numbers had dropped to just about 50-75.

Greenko group has submitted a plan to the forest department to adopt the Rollapadu bird sanctuary and would begin the work very soon. The conservation project, besides other things would involve:

  1. Development of infrastructure for habitat & species conservation
    • Bio Fencing along Rollapadu sanctuary boundary
    • Conducting Great Indian Bustard Survey in Satellite Grassland in Kurnool & Ananthapur Dist
    • Improvement of European Economic Community at Rollapadu
    • Engaging and associating with NGO's and research institution
  2. Habitat improvement program
    • Unwanted weed, woody growth removal for development of grass land
    • Engaging of 5 Nos. Fire watchers from April to May and January to March every year
  3. Reduction of man-animal conflict by Crop compensation
    • Adjacent private land shall be acquired to increase the sanctuary size and reducing the public intervention
  4. Publicity, Education, Nature Camp program
    • Conducting awareness program's around Rollapadu villages to ensure public support for cause of conservation
    • Filming a documentary about the great Indian bustard and screening in electronic media and local theatres to improve the awareness on bird and sensing the bird sighting every year across the corridor
  5. Eco-Development
    • Providing Solar lights to the Villages adjoining to Sanctuary area
    • Providing Solar Cookers to the Villagers adjoining to Sanctuary area to reduce fuel wood dependency
    • Providing Solar based drinking water pumping system for providing water facilities in adjoining villages near Rollapadu
  6. Promotion of Eco Tourism
    • Providing Solar lights near accommodation for visitors
    • Semi-permanent Cottages with attached Bathroom at GIB Wild Life Sanctuary
    • Tented accommodation with attached bath
    • Reception cum Restaurant
    • Battery Operated Vehicles
    • Maintenance of Ecotourism facility including man power support
Great Indian Bustard (GIB)

Tree Transplantation

The trees are an important part of our ecosystem, and play a vital role in maintaining the biodiversity of the area. In order to facilitate the construction of Ghani Solar Park in a large scale, Greenko has adopted the latest technology to suit the need to conserve trees within the project site. Greenko has transplanted all the trees without cutting. The trees were taken out from project site and replanted at planned locations and along the roads within the project site. The average age of the trees replanted is above 50 years.

We have adopted the following steps during the process of transplantation.

  1. Soil sampling and site selection
  2. Root pruning and tree packing
  3. Transplantation of trees
  4. Mechanical support and root pruning
  5. Post transplantation treatment

Economic Performance

With a focus on diversification, Greenko Group intends to play a key role in the changing profile of the Indian power sector to facilitate Indian economy sustain high levels of growth enabling the Govt. to meet the Nationally Determined Contribution targets.

Renewable Energy Market in India

Renewable energy in India comes under the purview of the Ministry of New and Renewable Energy (MNRE). Newer renewable electricity sources are targeted to grow massively by 2022, including a more than doubling of India's large wind power capacity and an almost 15 fold increase in solar power from April 2016 levels. Such ambitious targets would place India amongst the world leaders in renewable energy use and place India at the center of its International Solar Alliance project promoting the growth and development of solar power internationally to over 120 countries.

Greenko contributes to nearly 4.6% of the India's total renewable energy generation capacity, including renewable technologies that include wind, small hydro and solar.

Out of Greenko's total 2657 MW installed capacity Wind energy (1075 MW) contributes to 41%, solar energy (1125 MW) contributes to 42%, hydro power (380 MW) contributes to 14% and clean energy (natural gas and biomass) (78 MW) contributes to 3%. The break-up of the same is shown in the pie chart.


Our Growth

We have significantly expanded our installed base of operational projects. In recent years, we have made a number of acquisitions, including the SunEdison acquisition, to increase the total generating capacity of our projects, with a focus on acquiring operational and advanced construction projects near our existing and upcoming project clusters.

In FY 2016-17 Greenko has contributed 14.4% of India's renewable energy capacity addition. The break-up of the same is given in the below table and graph.

Category Greenko Capacity Addition (MW) in FY 2016-17 India's Capacity Addition (MW) in FY 2016-17 % of Greenko's Capacity Addition w.r.t. India's Capacity Addition
Solar 1041 5526 18.8%
Wind 459 5413 8.5%
Hydro 106 227 46.70%
Total 1606 11149 14.38%




As our business has grown, we have increased our expenditures on general and administrative functions necessary to support this growth and support our operations. As part of our efforts to reduce risks in our business, although we currently outsource the operations and maintenance of our WTGs to OEM, we are also building in-house skills concurrently to oversee and back-up the operations and maintenance of our turbines, a model which is different from that generally adopted by our competitors.

A key driver of our results of operations is our ability to bring new projects into commercial operation successfully. As of the date of this report, we have 80 operational projects with a combined installed capacity of 2657 MW and our under-construction projects include interests in three hydropower projects and three wind energy projects having a combined licensed capacity of 184.0 MW. We expect these projects to become operational over the next 48 months. Our under-active development projects include interests in hydropower projects, wind energy projects and solar projects. Our near-term operating results will, in part, depend upon our ability to transition these projects into commercial operations in accordance with our existing construction budgets and schedules.



Economic Value Generated and Distributed

The group has significantly grown and generated revenue of USD 190.32 Million in FY16 in comparison to the USD 157.98 Million revenue generated during April 2016 to March 2017, amounting to growth by 50%.



Defined contribution plans

Each group entity's approved superannuation schemes, state government provident fund scheme, employee state insurance scheme are defined contribution plans. The contribution paid / payable under the schemes is recognised during the period in which the employee renders the related service.

Defined Benefit Plans

The employee's gratuity fund scheme, long term compensated absences, pension, post-retirement medical and long term service award benefit schemes are defined benefit plans. The present value of the obligation under such defined benefit plans is determined based on the actuarial valuation using the Projected Unit Credit Method as at the date of the Balance sheet. In case of funded plans, the fair value of plan asset is reduced from the gross obligation under the defined benefit plans, to recognise the obligation on the net basis.

These funds are maintained under a registered Trust and there is no other liability to the group. The Retirement benefit obligations for 2016-17 were US $ 1.91 Mn.

Financial incentives received from Government

Financial incentive from Government in the form of generation based incentives (GBI) was received for the renewable energy generation.

Such Generation Based Incentive amounted to 6.88 US $ Mn in the reporting period.

The group also received financial benefits in terms of deferred tax benefit, custom and import duty exemption for certain eligible projects and imported components e.g. solar panels.

Regardless of gender, and all other parameters being equal, female employees are paid the same as men across different employee categories. All employees gradually grow through a fair evaluation and promotion program.



Technology and Innovation

Greenko as a technology driven group uses the tools, technologies and instrumentation existing today that allow project management, plant operation and plant maintenance. The technology deployed help increase safety, cut costs through effective project management, predictive maintenance, reduced downtime, and enhanced economic output.

Technology Adoption in Hydro Sites

Greenko develops its Hydro projects using state-of-the-art technology. We adhere to global standards and comply with stringent operating procedures that apply to hydro asset management.

During Project implementation stage, latest construction techniques and equipment are used with emphasis on maximum mechanisation and safety. Underground excavation of big chambers, long tunnels and deep shafts in highly challenging and fragile geology of young Himalayas is successfully done by our highly skilled teams with utmost accuracy using highly sophisticated (laser guided) survey instruments. The excavations at extremely inaccessible locations have been tackled with use of unique imported Spider Excavators. Rigorous project management review system is adopted to expedite execution of projects.

Our Hydro plants are automated and have a SCADA system which supports remote monitoring. Connectivity with the remote Hydro Plants is addressed by adopting IoT based system. Adoption of these systems and technologies resulted in significant improvement in operational excellence. Increased plant availability was achieved through real time monitoring of the performance parameters & health condition of the plant and machinery viz. Airgap and Vibration measurement systems and prognosis of the potential problems. Further, through quicker fault finding, root cause analysis and initiation of remedial action, the risks of failures and unplanned outages have reduced. Plant performance is maximized through validation of the operating parameters, comparison with standards/ benchmarks, analysis of the variances and taking corrective actions. Correlating with historical data, status and standards, we are able to optimise predictive and preventive maintenance. Optimum utilization of resources is ensured by leveraging ERP capabilities to manage inventory levels and Plant reliability.

Efficient generation is ensured by deploying technology based scheduling and water management. Also, improved trading of Power & Revenue realization is achieved through better forecasting of the generation in line with the market demand.

We are investing in advanced Analytics with respect to operating conditions, trend analysis, detection of slow & long-term deteriorations and timely R&M to provide the ability to increase life of the assets.

Technology Adoption in Wind Sites

Greenko develops wind farms with modern and sophisticated technology wind turbines having larger hub height, greater rotor diameter and DFIG. Our WTGs are sourced from world Wind technology leaders such as Gamesa and GE. Greenko's in-house competent teams employ powerful tools to conduct comprehensive Wind Resource Assessment and Micro-siting, to maximize the Park Energy yields. This has led to better AEP (Annual Energy Production) and improved Project economics.

Greenko's internal engineering team validates the design of the Wind Turbine Generator and the project implementation team manages the installation of wind farm including internal grid lines (33 kV line to the higher level EHV systems) and power evacuation system.

The Operation and Maintenance of the Wind turbine generator is entrusted with the OEM's Services team. Greenko's in-house O&M personnel oversee the service contract on the OEM and manage the O&M of the balance of plant to maximize availability, Uptime and overall Generation. Advanced SCADA systems help in providing detailed digital information of the operation of the Plant which is subjected to further analysis to improve generation, for better condition monitoring for health and scheduling of maintenance activities. This also lends to sophisticated Forecasting and Scheduling of the plant to help the grid operator to manage the intermittency aspect of wind as a renewable resource. From time to time, sophisticated technology is used to study the vibration signals of the machines to assess the possibility of any impending component failure and thus improving machine reliability. Drones are deployed with high resolution cameras to help view the condition of the blades for any wear and tear or lightning impact to take necessary corrective and preventive measures to avoid any catastrophic failures.

Technology Adoption in Solar Sites

Greenko adopts and applies the state-of-the-art technology available, to augment efficiency and speed during Construction to maximise Asset performance during operations phase of the Solar Plants.

At Project Implementation stage, real time monitoring of project construction through an in-house cloud based software assists in quick identification of lagging activities for rapid initiation of corrective action. This has ensured completion of projects in record span of time.

For automation of material tracking at site, RFID technology is implemented. The RFID tags placed on materials enable tracking with respect to materials received at site, materials issued to contractors and materials available in the warehouse. The RFID tracking software is linked to the in-house project monitoring software and this facilitates appropriate inventory management, resulting in reduction of carrying costs and elimination of delays due to material shortfall.

At Plant Operations stage, IoT based SCADA is adopted to monitor Performance, gauge Performance ratios, detect and prevent failures/ reduce downtimes.

Advanced Ticketing system help efficient and quick servicing required to fix the issues that could potentially lead to downtime. Capturing operational parameter data up to string level enables faster identification and resolution of specific problems at a solar plant and hence improves trouble shooting efficiency. Outage Management System - based on issuance of tickets per activity, to secure faster TAT (Turnaround Time) - optimizes the resources for trouble shooting & breakdown maintenance.

Different methods of module cleaning (Waterless, Water based fixed installation, Water based mobile) are employed to adapt according to availability of resources. Soiling stations help evaluate the energy loss due to soiling and take informed decisions to adopt cleaning frequencies focused on keeping financial losses to the minimum.

SCADA Room for Plant Operations Managementt
Project HUB for Project Management

Epilogue from the President & Joint MD

Mahesh Kolli

Founder, President & Joint Managing Director

Dear Stakeholders,

The economies of our planet are critically dependent on the services of ecological life-support systems. So in one sense their total value to the economy is infinite. Because ecosystem services are not fully accounted in commercial markets as our economic services are, they are often given too little weight in decisions. We would compromise Our Common Future- the sustainability of humans in the biosphere, if we don't change our course significantly. At Greenko, we are determined to take necessary steps and be a catalyst for change to protect our Planet, while we continue to grow our People and Profits.

In this context, we believe that our compass- measurement and accounting systems by nations, companies and individuals- has to change so that we are steered in right direction, at each step, to achieve sustainable development. United Nations Sustainable Development Goals is one such compass with which we can measure and evaluate our progress and take right decisions. At Greenko, we pursued value creation model that is fundamentally sustainable and undertook sustainability reporting to measure, assess and disclose our progress in contribution to economic, environment and social systems. Through this journey, for over a decade, our commitment to sustainable development and the belief that pursuing this path firmly delivers sustainable shareholder value, has been reinforced. We are already witnessing that technology changes more than favorable changes in regulation have overcome cost and scale barriers and mainstreamed renewable energy. This trend will continue irreversibly and of course, the renewable energy systems and business models would have to transform to cater to and substitute non-renewable energy sources for other end uses like transport etc.

Through this report, we hope to have given an account of our contribution to economy of India, mitigation of climate change, improving local environment and economy and finally caring and growing our people. While, we are determined to be steadfast in our pursuit, we value partnership with our stakeholders as also your views.