Draft:Hari Achuthan
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Comment: In accordance with the Wikimedia Foundation's Terms of Use, I disclose that I have been paid by my employer for my contributions to this article. Tord.t (talk) 05:24, 8 June 2025 (UTC)
Hari Achuthan | |
|---|---|
| Born | 1972 (age 52–53) |
| Occupation(s) | Entrepreneur, Investment Executive |
| Years active | 1998–present |
| Known for | Founder and CEO of Convalt Energy; Co-founder of ACO Investment Group |
Hari Achuthan (born c. 1972) is an American entrepreneur and investment executive. He is the founder and chief executive officer of Convalt Energy, a solar power and manufacturing company based in the United States, and co-founder of ACO Investment Group, a private equity firm focused on infrastructure and renewable energy projects in emerging markets.[1][2]
Career
[edit]Achuthan began his career in finance, working at Morgan Stanley and Lehman Brothers before serving as a director at Credit Suisse, where he focused on global pension strategy and transition management.[3]
In 2010, he co-founded ACO Investment Group, an investment firm that launched major solar projects across Southeast Asia and the U.S.[1]
In 2014, ACO signed an agreement with Myanmar’s Ministry of Electric Power to develop two 150 MW solar power plants in the Mandalay region. The $480 million project was to be managed by Convalt Energy and supply over 10% of Myanmar’s electricity needs.[1] Achuthan described Myanmar as offering “the best growth opportunity in Southeast Asia” and stated ACO would invest $700 million across the country.[4]
Convalt Energy
[edit]Achuthan founded Convalt Energy in 2013 as a vertically integrated solar company. In 2021, Convalt acquired and relocated manufacturing equipment from a former SunPower factory in Oregon to a new site in Watertown, New York, with plans to establish a U.S.-based solar panel production facility.[5]
In 2022, Achuthan announced that Convalt would power the factory using temporary generators while waiting for grid infrastructure, affirming that production would begin by the end of the year.[6]
In December 2022, EGAT International, a subsidiary of Thailand's state-owned utility, signed an agreement to acquire a 25% equity stake in Convalt to support its U.S. manufacturing ambitions.[7]
Policy Advocacy and Public Engagement
[edit]Achuthan has been an advocate for building domestic clean energy manufacturing capacity in the U.S. In *S&P Global Market Intelligence*, he discussed the risks of relying on foreign solar supply chains and the importance of IRA implementation to U.S. competitiveness.[8]
In May 2024, he testified before the U.S. International Trade Commission, stating: "If we are to succeed, we need American manufacturers like Convalt to survive this onslaught of low prices."[9]
Expansion and Recent Developments
[edit]In late 2024, local and national news reported that Achuthan was pursuing a new solar manufacturing project in Colorado Springs, Colorado, following land and permitting delays in New York.[10]
He has been cited by *Reuters*, *Bloomberg*, *S&P Global*, *Eco-Business*, and *PV Tech* for his role in reshaping solar development policy and investment between the U.S. and Asia.[1][4][8][3][9]
References
[edit]- ^ a b c d "Myanmar's solar ambitions kickstarted with $480 million ACO pact". Eco-Business. 29 August 2014. Retrieved 20 June 2025.
- ^ "ACO Investment Group Overview". Bloomberg. Retrieved 20 June 2025.
- ^ a b Groom, Nichola (3 November 2023). "Insight: US solar panel manufacturing boom threatened by cheap imports". Reuters. Retrieved 20 June 2025.
- ^ a b "U.S. Firm to Invest $480 Million in Myanmar Solar Power". Bloomberg. 29 August 2014. Retrieved 20 June 2025.
- ^ "Company outlines plans for solar panel plant, jobs at airport industrial park". WWNY 7 News. 9 July 2021. Retrieved 20 June 2025.
- ^ "CEO of Convalt says delay won't stop factory plans". WWNY 7 News. 1 February 2022. Retrieved 20 June 2025.
- ^ "Thailand's EGAT signs agreement to invest in Convalt". WWNY 7 News. 1 December 2022. Retrieved 20 June 2025.
- ^ a b Copley, Michael (23 May 2022). "A decade into tariffs, US solar manufacturing is still deep in Asia's shadow". S&P Global. Retrieved 20 June 2025.
- ^ a b Groom, Nichola (17 July 2024). "Many US solar factories are lagging. Except those China owns". Reuters. Retrieved 20 June 2025.
- ^ "Had eyed Watertown, solar panel maker may be moving West". WWNY 7 News. 24 December 2024. Retrieved 20 June 2025.
External links
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