Applications for LAMP Fellowship 2025-26 are now open. Apply here. The last date for submitting applications is December 21, 2024
Reports suggest that the first reactor of the Kudankulam power plant is close to operational. With state discoms struggling, advocates of nuclear power see Kudankulam as a necessary boost to India’s struggling power sector. The Kudankulam power plant will have two reactors. At full capacity, the plant would produce 2 GW of energy, making it India’s largest nuclear plant, and significantly increasing India’s nuclear capacity (currently at 4.8 GW or 2.3% of total capacity). Internationally, nuclear power plants contributed 12.3 % of the world's electricity production in 2011. In terms of number of nuclear reactors, India ranks 6th in the world with 20 nuclear reactors (in seven power stations across five states: Rajasthan, Uttar Pradesh, Gujarat, Karnataka and Tamil Nadu). The Kudankulam power station would be Tamil Nadu’s second power station after the Madras Atomic Power Station (MAPS). Tamil Nadu is struggling to meet electricity demand, recently moved the Supreme Court, asking the Centre for more power. Peak demand deficit (the difference between electricity supply and demand at peak periods) in the state was 17.5% in 2011-12. The per capita consumption of electricity in the state was 1,132 kWh in 2009-10, significantly greater than the India average of 779 kWh. Currently, electricity in Tamil Nadu is fueled by a mixture of coal (35% of capacity), renewable sources (42%) and hydro sources (12%). A fully operational Kudankulam reactor would boost Tamil Nadu’s capacity by 6% (including state, private and centrally owned generating entities). The interactive table below provides a state-level breakdown of key power sector indicators. To view data in ascending or descending order, simply click the relevant column heading. (For a detailed overview of the power sector and even more state-wise statistics, see here.) [table id=4 /] Source: Central Electricity Authority; Planning Commission; PRS. Note: capacity for states includes allocated shares in joint and central sector utilities. T&D (transmission and distribution) losses refer to losses in electricity in the process of delivery
Mr. Vaghul, our first Chairperson, passed away on Saturday. I write this note to express my deep gratitude to him, and to celebrate his life. And what a life he lived!
|
Mr. Vaghul and I at his residence |
Our past and present Chairpersons, |
Industry stalwarts have spoken about his contributions to the financial sector, his mentorship of people and institutions across finance, industry and non-profits. I don’t want to repeat that (though I was a beneficiary as a young professional starting my career at ICICI Securities). I want to note here some of the ways he helped shape PRS.
Mr Vaghul was our first chairman, from 2012 to 2018. When he joined the board, we were in deep financial crisis. Our FCRA application had been turned down (I still don’t know the reason), and we were trying to survive on monthly fund raise. Mr Vaghul advised us to raise funds from domestic philanthropists. “PRS works to make Indian democracy more effective. We should not rely on foreigners to do this.”. He was sure that Indian philanthropists would fund us. “We’ll try our best. But if it doesn’t work, we may shut down. Are you okay with that?” Of course, with him calling up people, we survived the crisis.
He also suggested that we should have an independent board without any representation from funders. The output should be completely independent of funders’ interest given that we were working in the policy space. We have stuck to this advice.
Even when he was 80, he could read faster than anyone and remember everything. I once said something in a board meeting which had been written in the note sent earlier. “We have all read the note. Let us discuss the implications.” And he could think three steps ahead of everyone else.
He had a light touch as a chairman. When I asked for management advice, he would ask me to solve the problem on my own. He saw his role as guiding the larger strategy, help raise funds and ensure that the organisation had a strong value system. Indeed, he was the original Karmayogi – I have an email from him which says, “Continue with the good work. We should neither be euphoric with appreciation or distracted by criticism.” And another, "Those who adhere to the truth need not be afraid of the consequences".
The best part about board meetings was the chat afterwards. He would have us in splits with stories from his experience. Some of these are in his memoirs, but we heard a few juicier ones too!
Even after he retired from our Board, he was always available to meet. I just needed to message him whenever I was in Madras, and he would ask me to come home. And Mrs. Vaghul was a welcoming host. Filter coffee, great advice, juicy stories, what more could one ask for?
Goodbye Mr. Vaghul. Your life lives on through the institutions you nurtured. And hope that we live up to your standards.
Madhavan
