CEO Insights Magazine

As the renewable energy industry continues to grow, it has become increasingly important for companies to have experienced professionals at the helm to ensure strategic success. One such critical role is that of the Chief Investment Officer (CIO), who oversees the company's equity and debt structuring. Having a CIO with experience in the overall lifecycle of power and water infrastructure is especially advantageous for renewable energy companies. They can effectively manage risks, identify investment opportunities that align with the company's goals, and maximize returns. An excellent example of such a CIO is Sivaramakrishnan Sreedharan, who has a proven track record of success in the energy industry.

Sivaramakrishnan Sreedharan is the CIO of Metis Energy and co-founder of Athena Energy Holdings. He is responsible for leading fundraising and development activities for Athena. Before founding Athena, Sivaramakrishnan worked as the APAC Power Director for Advisian, where he primarily focused on strategic advisory on renewable energy policy and mergers & acquisition transaction services. Throughout his career, Sivaramakrishnan has completed transactions worth 2bn in the power industry. Below is an excerpt of Sivaramakrishnan Sreedharan’s exclusive interaction with the CEO Insights Asia magazine.

How did you associate with Metis Energy?

When I was still employed at my prior firm, my partners and I decided to switch roles and become asset owners and managers, specializing in green energy. Athena Energy was founded with funding from a Malaysian family office with the mandate to develop, invest, own, and operate renewable energy facilities across Asia Pacific In the beginning, we focused on developing projects in Australia and Vietnam before expanding to the Philippines and Bangladesh, and increasing the breadth of our inventory to include both distributed energy and utility-scale businesses.

Athena was very successful in securing and delivering projects, even during the height of the global pandemic. As a result, we needed additional capital to sustain the expedited growth path of the company. In 2021, we were acquired by Manhattan Resources, which was re-branded as Metis Energy in April 2022. We now have a sizeable presence in several Asian countries and I am proud of the fact that all our teams on the ground are helmed by local talent. In addition, my responsibilities within the business include overseeing the company's equity and debt transactions and expanding into the Australian market. With its headquarters in Singapore, the business has quickly grown to become one of the most successful renewable energy companies in Southeast Asia and Australia.

How would you define Metis Energy as an organization and its current position in the market?

As a renewable energy asset owner and operator, Metis Energy believes and pursues a long-term strategy. Our business is based on the principle that the assets we built should be invested in and managed to ensure they generate the expected returns. This strategy distinguishes us from some of the other players in the renewable energy sector which adopted a 'build-and-sell' model, and it guarantees long-term success for the business. Henceforth, when it comes to renewable energy project development, Metis Energy has a proven track record in providing a full-service solution by developing, investing, owning, and operating renewable energy projects, a cradle-to-cradle approach.

What do you consider as CIO when creating financial strategies and policies to support the company strategy?

Selecting appropriate technology is one of the fundamental considerations of our company strategy. Though still in its infancy, storage is a rapidly developing technology that will gain increasing importance as renewable energy becomes more integrated into the system, which is why we've opted to focus on it. The market is the second component of it. We didn't pick these markets because they are accessible; rather, we picked them because we have faith in their growth potential and believe they can help us build a more diversified company portfolio. Additionally, we can advance localized initiatives by organizing and expanding our teams through spontaneous means.

Stage three is carrying out the plan. The implementation skills must be completely coordinated at the market level, properly guided by key supporting functions and senior management from Singapore, whilst giving enough autonomy to local teams to deliver world-class projects. This is the foundation upon which we build our company's identity, as we believe that investments should yield sustainable positive results.

Going forward, what are the changes in market behavior that you anticipate and what are the opportunities that you foresee?

Renewable energy is no longer a futuristic concept, it has become a reality, and its importance will continue to increase in the future. Climate change concerns and the desire to reduce carbon emissions are driving the shift toward renewable energy sources. However, the integration of renewable energy into existing grids and the management of its generation and distribution is complex, and requires significant effort and commitment. Effective changes related to storage policies, operating renewable energy facilities according to international best practices and policy alignment are necessary. While progress has been made, it is not as fast as desired. It is crucial to accelerate the process of renewable energy penetration to implement solutions faster and achieve a cleaner and more sustainable future.

Sivaramakrishnan Sreedharan, Chief Investment Officer, Metis Energy

Sivaramakrishnan, is an alumnus of the National University of Singapore, he completed his Master of Science in Industrial & Systems Engineering. He also holds a Bachelor's degree in Mechanical Engineering from Anna University. Sivaramakrishnan has worked for several renowned companies such as Parsons Brinckerhoff, Marubeni Power Asset Management, Black & Veatch, and Advisian prior to co-founding Athena Energy and his current role as CIO of Metis Energy.