Internal Operating Environment
Greenko makes sustained efforts to harness opportunities posed by the external environment through responsive alignment of internal environment. Greenko analyses its internal operational factors to identify the critical strengths and weaknesses which helps Greenko in refining and enhancing its internal culture, capabilities, and competencies to align with the requirements of business growth. Through a continuous evaluation mechanism, Greenko has identified the following eleven key internal operating elements to serve as focus areas for evolving into a more resilient, sustainable, responsible, and transparent business entity.
Alignment with Values
The business operations at Greenko are driven by its vision, guided by aspirations, and living by its values. Greenko’s SEEDIT values serve as the foundation for endeavouring culture, stability, and growth. Institutionalisation and adaptation of Greenko values have been a remarkable journey through learning and development interventions. SEEDIT values have been effectively communicated to the employees. Induction programs are being conducted to impart the knowledge of SEEDIT values to new employees, thereby aligning them with the Greenko standards. Greenko not only inculcates values but, believes in living by them and further aids the workforce to follow the same. The appraisal system at Greenko is entirely merit-based and the organisation rewards equal weightage to performance and adherence to SEEDIT values.
Balancing Leadership, Technology, and Process
Greenko endeavours to improvise the elements of Leadership, Technology, and Processes to develop a strong, and resilient organisation. Greenko believes that the critical elements for improvising performance are strengthening and preparing the employees for future leadership roles, effective utilisation of technological tools and processes. Greenko’s strong leadership and governance framework is guiding the Group to position itself for long-term value creation by harnessing growth opportunities. Greenko has a well laid leadership development program to impart knowledge and develop expertise in future leaders. Greenko is continuously upgrading its technology and systems and processes. Management systems with underlying feedback, measurement loops, and performance improvement methods are also adopted. Greenko’s DNA focusses on the maintenance of the balance among Leadership, Technology, and Processes.
Ownership Maturity Model
he human assets form the core of Greenko operations and they are agile, resilient, and responsible groups steering Greenko through a successful path by mitigating all the short and long-term risks. At Greenko, each employee is a responsible steward, an embodiment of values, and strives hard to reinforce the brand. At Greenko, augmentation of Human Capital through inorganic growth is more incidental to business acquisitions, spanning across its various businesses viz. Hydro, Wind, Solar, storage and new energy (ZeroC). The diverse skill set of the workforce has helped in establishing the synergic relationship between various stakeholders and also in successful project delivery. The organisation is becoming multi-skilled and multi-functional by exploring new project arenas. The organisation believes in the ownership model to develop a team with the traits of accountability, authority, and autonomy to emerge as a successful organisation. This has proved effective by bringing out innovative ideas and motivating the workforce to make the right decisions at the right time.
The People Process System
Greenko balances its ‘ownership model’ with the People, Process, and Systems approach. The PPS model was implemented at Greenko to achieve the following:
- To build and recalibrate competencies of human asset
- To internalise in GAM, Intelligent Storage operations & New Energy platform for enhanced process efficiency
- To connect people to motivate overall PPS implementation
- To share best practices across businesses
- To aid Greenko to excel in GKO 4.0 and evolve further
The People – Expectations & Competencies
The impact of the PPS Model in four years at Greenko has shown:
- Improved sustainable operational efficiency and growth with the measurable performance of the ‘People’ and the ‘Assets’ - Focus
- Contributing to the regeneration of efficiency in people and operational assets for value creation, through Energy Systems for Greenko - Regenerative Thinking
- The Group has mapped Key Performance Indicators (KPIs) of the Businesses for each of the employee roles and measured it against predetermined metric and weights assigned to employee role deliverables - Talent Management
- The Performance Management System (PMS) was implemented with measurable weights - 50% for business KPIs and 50% to measure business deliverables - in alignment to Greenko Values - Strategic Thinking
- Multi-domain multi-skilled employees who can role play in uncertain times - a transition towards GKO 4.0 made it imperative for Greenko to multi-skill its human assets to get a circular orientation, not allowing any stagnation in the same role year on year – circular
As a framework, GAM was divided into seven key areas for which detailed processes were delineated, discussed, and adopted in these key areas. The features of the process flow include:
- Cross-functional activities
- The mandated flow of day to day, week over week, month on month activities
- Communication with centralised teams like Tech services
- Checks & balances and the way forward, when falling short of targets
Also, the KPIs identified for each of the verticals viz., GAM, Storage and New Energy and the performance outcomes are measurable indicators. In Greenko, majority of the employees are multiskilled having multi-disciplinary domain knowledge and are eligible to work in multiple functions, thus reaffirming the circular approach in business management.
The analytical management systems deployed for tracking project and asset management include measures such as:
- Celeste Solar - Analyse the trends and identify any deviation from the expected results
- GOMs - Tracking of Maintenance activities and alerts to check any form of deviation from schedule or quality GMAT Tracker - Tracking of minutes of meeting and closing the action items
- GATS - Tracking of assets (e.g. Modules)
- GEPS - Tracking of project activities
- Forecast & Scheduling - Deploying statistical forecasting models and realtime weather forecasts to predict day-ahead energy Activity Tracker
- The systems also consist of predictive measures such as:
- Aerial drones - for digital plant inspection which is an advanced technique for reliability and performance improvement
- Thermal Imaging - Thermal Imaging camera to observe the health of modules
- Predict Downtimes - Development of custom notifications based on queries and machine learning models to identify anomalies and predict impending failures
Greenko has showcased exemplary strengths through its model and PPS framework implementation.
Agility to Adapt
The agility to adapt among all levels is the sole creditor for the organisation to undergo a smoother transition from GKO 1.0 to 2.0, GKO 2.0 to 3.0 and then to 4.0. The policies and internal support extensions for imparting the level of ownership and authority have proved effective for the younger workforce to develop competencies and potential to take up the leadership roles. Further, the leadership pipeline is designed in such a way that it meets the business expansion plans of the Group, thereby helping the younger generation to climb up the ladder. Talent scalability is a critical and ongoing agenda for HR to provide the required number of talented resources for new projects and acquisitions.
Greenko finds its success from the sense of responsible stewardship the workforce has gained through these years. Employee welfare programs, merit-based annual performance reviews, and talent recognition are salient factors for retention of 89.38% of its workforce during the reporting period.
Unambiguous Information for Critical Decision Making
Availability and flow of information from one level to other is the major requisite for effective decision making. Greenko has established advanced information technology systems to evolve a real-time monitoring system to supervise the progress of project execution and asset management and thereby, enable the availability of information to all on a need-to-know basis. This helps in eliminating conflicts, delays, and frictions among the stakeholders and also in developing a sense of stewardship.
Technologically Superior Intelligent Energy Platform
The proper management of project execution, storage project operations, follow-ups, and asset governance following high standards requires a sound knowledge of digital solutions with higher efficiencies. Greenko continues to excel in these areas by employing a range of digital and decentralised solutions for carrying out the business in a sustainable and accountable manner. This asset base is being significantly augmented to create an Intelligent Energy Platform.
Disciplined & Methodical Project Development Mechanism
Greenko follows a meticulous approach for carrying out the business activities like project execution, management, and delivering the final solutions in a selfdisciplined and agile environment. Discipline is one of Greenko’s core values to define process orientation, effective deployment of competencies appropriately, and using systems adequately. Therefore, it has developed an in-house state-of-the-art project monitoring system known as Greenko Energy Project Systems (GEPS) for tailoring robust and real-time project management, QA/QC, engineering, logistics, material management, and stores. Greenko has developed into an exemplary player by carrying out the business in a disciplined and agile manner and is the paradigm for the best practices in project execution with minimisation of operating costs.
The table below mentions the capabilities possessed by Greenko with respect to executing the pumped hydro-power storage projects and establishing the new energy platform.
Leading Experts in New Energy Space
Greenko team has developed distinctive expertise in various renewable energy, storage recruiting necessary expertise, redeploying, and training the existing employees to take new roles. This has allowed Greenko to emerge as a significant market player to constantly create innovative, novel, and futuristic solutions for delivering sustainable value. Greenko believes that the expertise and competencies gained through these years will help in addressing the new risks and challenges and will lead to a smoother transition further.
Reinforcing Stakeholder Trust
Stakeholder engagement and inclusiveness have been the prime objective of Greenko’s operations and are evident from Ownership Maturity models and SEEDIT values. The above ‘Value Drivers’ are seamlessly integrated with the ‘Enablers’ to strategically create a Value Proposition with a definite ‘Outcome’. Most of Greenko’s business models are Public-Private partnerships and this has proved effective for Greenko to foster and nurture relationships with stakeholders at all levels, which further helps in strategy development and decision making. Ownership model and PPS are aided with HR strategy to support the inclusive growth among the workforce with suitable policies, processes, and decisions. The bedrock of the Company’s reputation is the trust which it has gained through all its years of operations amongst all stakeholders. These elements are also embedded in Ownership Maturity Model and PPS systems.