News Summary

• Pratik Agarwal-led Sterlite Group is building a private energy business on a contrarian bet that providing round-the-clock green power and making technological advancements will yield higher margins.
• This contrasts with bets by leading Indian conglomerates such as Tata, Adani and Reliance, where the name of the game is backward integration.
• All three business houses are investing in manufacturing battery cells and solar cells, and at least two also aspire to make green hydrogen using the clean energy they produce.