Energy Resources
Range Of Clients
  • Banks and Lenders
  • Governments/Government Organisations
  • Industry Associations
  • Investors
  • Multilateral/Bilateral Organisations
  • Power Developers
  • Public And Private Sector Utilities
  • Regulatory Authorities
Indicative Services Spread
  • Reform & Regulation
  • Risk Management
  • Strategy & Operations
  • Transaction/Project Advisory
Indicative Sectoral Spread
  • Generation
  • Distribution
  • Transmission
  • Fuels
  • Renewables
  • Trading
  • Carbon Strategy
Select Energy Group Clients
  • Central Electricity Regulatory Commission
  • CLP Group
  • Delhi Electricity Regulatory Commission
  • Department for International Development
  • GMR Energy Limited
  • Haryana Power Generation Corporation
  • LANCO Infratech Limited
  • Maharashtra Electricity Regulatory Commission
  • NTPC Limited
  • Power Finance Corporation Limited
  • Power Grid Corporation of India Limited
  • PTC India Limited
  • Reliance Energy Limited
  • State Electricity Boards in Punjab, Maharashtra, Himachal Pradesh, Tamil Nadu, West Bengal
  • Tamil Nadu Electricity Regulatory Commission
  • Teesta Urja Limited
  • The Tata Power Company Limited
  • Torrent Power Limited
Powering Growth in the Energy Landscape

The Energy Consulting practice at ICRA Management Consulting Services (IMaCS) banks on its two-decade plus industry experience, strong lineage and deep understanding of the Energy sector in India, to provide practical solutions to unlock significant business opportunities. We work across Power and Oil & Gas spectrum. With significant experience in energy sector consulting, our in-house experts enable clients to be more competitive, improve performance, efficiently implement transactions and comprehend the evolving policy & regulatory risks and opportunities.

Our service offerings are grouped across the following four broad functional areas:

  • Financial Advisory
  • Market and Risk Advisory
  • Regulatory
  • Monitoring and Evaluation

Financial Advisory

We assist investors in identifying investment opportunities in the traditional and Renewable Energy sector and evaluating them in light of their investment criteria, and the likely risk-reward profile, regulatory, commercial and legal requirements. Through a critical understanding of the sector, our team helps clients in the energy sector formulate business and financial plans that improve long-term competitiveness and profitability.

Market and Risk Advisory

Risk Management – Our in-house team designs comprehensive financial models that capture all risks and can prepare forecasts during various stages of a project, such as feasibility, negotiation with stakeholders (EPC, O&M, fuel suppliers, etc.), financial closure, sale of stake, etc. Our Enterprise Risk Management strategies and frameworks enable identification, measurement and mitigation of risks.

Bid Management - We provide full range of economic due diligence services, including customised projections, review of contracts and fuel supply arrangements, valuation services and advice on regulatory and market risk.

Regulatory Advisory

Strengthening the Reform Process – We possess significant experience in the Reform and Restructuring, as well as of the institutional strengthening process in the electricity sector. Our expertise includes designing Incentive mechanisms, Benchmarking and yardstick competition, Performance-based regulation, Cost analysis and economic policy analysis.

Enabling Regulatory Framework - We help regulators design market Reform & Regulation frameworks and also assist capacity building in utilities for compliance to regulatory procedures. Our team has assisted regulators and utilities in several States by providing strategic advice during regulatory proceedings.

Designing Policy Formulation - We have been at the forefront of several policy formulation exercises at the Ministerial level as well as at the State Regulatory level.

Monitoring and Evaluation

We combine deep understanding and extensive experience in the sector, to critically assess progress and measure value creation in various energy projects. Our Project Management services ensure smooth implementation of projects as per stipulated framework of timelines, quality and financial parameters.

Energy Practice: Contacts
Satyajit Suklabaidya
Principal-Energy Practice, IMaCS

ICRA Management Consulting Services Ltd
11th Floor, B Wing,
Wall Street, Andheri East,
Mumbai 400 069

Tel: +91 22 6179 6345
Mobile: +91 77385 22244


Rachit Verma
AGM – Energy Practice, IMaCS

ICRA Management Consulting Services Ltd
1st Floor, Logix Park,
Plot A4-5, Sector – 16,
NOIDA 201301

Tel: +91 91676 92971
Mobile: +91 77385 22244


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