With Shell JV, We Hope To Close FY22 At Rs 1,500-crore Topline: Manish Dabkara Of EKI Energy

Indore-based EKI Energy Services, founded by Manish Dabkara, listed its shares on the SME platform at the BSE in April at Rs 140 apiece.

This JV will invest in nature-based solution projects.

The JV will put the projects on ground first and then develop them as carbon credit projects, to sell credits in India to companies trying to be ‘net zero’.

The India JV will aim to get as much share of that as possible.

As I said, we are looking at developing as many projects as possible, there is no cap on that.

The on-ground project development work will be done by the JV or with partnerships with FPOs and NGOs .

Shell has the intention to develop the projects with its own funds and EKI has also earmarked some funds but we are open to work with other funds across the world.

After working for a year after my MTech degree, I felt there was a great opportunity for consultants in the climate change space, and started an advisory service.

But we saw that the major problem among clients was selling of carbon credits so we set up a trading desk in 2016-17 to find buyers and then matching them with sellers of the carbon credits located in developing nations like India.

The carbon credit market was at its peak between 2005 and 2011, but due to the low interest from the US to sign the Kyoto Protocol, this market started to shrink.

We were the only listed entity in the carbon credit domain, so it created high traction among investors which are active in the carbon credit, environmental commodities, and climate change domain.

As is the case with any commodity which has more buyers than sellers, carbon credit prices are rising and our stock is moving as we are well placed.

Our revenue in the first quarter alone was Rs 193 crore, which was close to our annual revenue of Rs 191 crore in FY21.

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