An interview with Prashant Modi
Prashant Modi: Challenges for Energy Providers in India
As India’s economy continues to grow, energy providers face challenges meeting the demands. Reducing India’s dependence on imported energy is a sensible plan, to ensure that finances stay within India. Forward thinking companies, look to the future by utilising local natural resources, to provide source of energy.
For many years now, large amounts of oil and gas have been imported, from other countries around the world. The founder of Great Eastern Energy Corporation Ltd. (GEECL) noted that this trend was likely to continue into the future. YK Modi, understood how the projected growth expected in the economy, could not support the energy demands.
A Growing Demand
As the commercial market needs for energy became greater, it was a logical step for the company to think about considering new ways of harnessing alternative energy sources. GEECL became the first private sector company, to harvest distribute Coal Bed Methane (CBM). Initial clientele were industrial manufacturers. The process of farming the gas, was at first, slow to refine. There were technical issues, which interfered with the speed of the operation.
Over the years, the process of extraction has accelerated. The gas is farmed from coal-seams, located in Western Bengal. The first operation for distributed began in 2007. By July 2009, there were 30 CMB wells. The company plans for 380 wells to be operational in the near future.
The President of Great Eastern Energy Corporation Ltd
Prashant Modi began his association with GEECL in 1996. He is company President, and Chief Operating Officer. Over the years, he has been instrumental in aiding the company to realize objectives, as an energy provider. In 2005, the Corporation GDRs began the process of being listed in the London Stock Exchange. This endeavour was supervised by Prashant Modi. The GDRs are now part of the Alternative Investment Market. Prashant Modi, oversees daily operations at GEECL.
The expertise, gained from refining the process of extracting gas from coal-seams, was used to publish a book on CBM production methods. As an enterprise, GEECL has a track record of growth and gradual expansion. There is considerable demand, for more wells to be made operational.