In addition to its offices in Switzerland and New Delhi, Panitek Power AG is set to expand its presence in Europe with a new office in London, United Kingdom (UK). The UK has made strong commitments to achieving net-zero, and last year it was the first major economy to enact legislation towards this goal. Recently it has made considerable progress in decarbonizing the electricity supply.
Panitek is pleased to announce that Dr Parag Vyas is joining its growing team as Managing Director, UK & Ireland. Parag has worked for over 25 years in the energy and transport sectors. Former roles include Head of Technology at Aggreko plc and Head of Advanced Concepts Centre at Rolls-Royce plc. He currently advises the UK government on the impact of disruptive technology on regulations, as a member of the Regulatory Horizons Council, an independent expert committee. Parag is a UK Chartered Engineer, has an engineering degree from Imperial College, London and a doctorate from the University of Oxford. He is a Fellow of the UK Institution of Engineering and Technology.
A decade ago, coal supplied 40% of electrical power with wind and solar making up only 3%. Today renewables make up 37% of the supply, and the country has not needed any coal power production for months in 2020. Turnover in the UK's low carbon and renewable energy economy was estimated to be £46.7 billion in 2018. These developments suggest that this is the right time for Panitek Power to expand its operations in the UK, strengthening the company’s capabilities towards the adoption of clean and sustainable energy technologies globally.