1.Brief us about DNV and let us know how DNV GL becomes DNV.

 

DNV is an independent assurance and risk management provider operating in more than 100 countries to safeguard life, property, and the environment. We use our broad experience and deep expertise to advance safety and sustainable performance, set industry standards, and inspire and invent solutions. As a trusted voice for many of the world’s most successful organizations, we help seize opportunities and tackle the risks arising from global transformations. DNV GL has been in place since the 2013 merger between DNV (Det Norske Veritas) and GL (Germanischer Lloyd). After a comprehensive review of our strategy, we decided to change our name to DNV on 1 March 2021 as we position ourselves for a world in which many of our markets are undergoing fundamental change.  Many customers have been referring us as DNV. Our brand name is stuck in the minds of our customers and is something which they trust. A simpler name is a strong trust mark for our customers in the future,but still carries with it all our strengths and proud 158year-old legacy with a purpose to safeguard life, property and the environment. 

 

2.How DNV uses its knowledge to advance safety and performance. Also, let us know how DNV GL becomes DNV.

 

DNV is globally recognized for providing classification, technical assurance, software, and independent expert advisory services to the maritime, oil and gas, and energy industries. We also provide certification services to customers across a wide range of industries. We empower our customers’ decisions and actions with trust and confidence by combining leading technical and operational expertise, risk methodology and in-depth industry knowledge.

 

3.DNV is a world-leading provider of digital solutions for managing risk and improving safety. Kindly tell me how it works.

 

Digitalization has a key role in enabling Energy Transition. DNV provides solutions that are used worldwide to manage risk and performance for wind turbines, electric grids, pipelines, processing plants, offshore structures, ships, and more. Our customers have relied on our ability to solve technical challenges related to industrial assets. Research, development, implementations and partnerships with our customers have earned us the position as a trusted third-party vendor of software and services. We are accelerating the transition toward the digitalization of systems and software-as-a-service (SaaS) solutions to give customers the efficiency and flexibility of the cloud, including the power and insights from advanced analytics. An example - DNV is further developing our KFX CO2 simulation software to increase safety in carbon capture and storage. KFX CO2 software simulates accidental releases of CO2 from storage facilities or leaks from pipelines, trucks or ships, telling us what happens when accidents occur. As such, we can ensure the highest safety standards when it comes to decision making with cost effectiveness in mind.  Another example - The acquisition of GreenPowerMonitor 2016 combined our wind expertise with GPM's solar asset management and monitoring solutions. One of our solutions, GPM Horizon, enables customized operation and management workflows. This allows renewable energy developers and owners to monitor and manage their fleet in real-time, covering multi-technology renewable energy portfolios for current and future systems.

 

4.What are DNV’s purpose, vision, and values?

 

Since 1864, our Purpose has been to safeguard life, property and the environment. Our Vision is to be a trusted voice to tackle global transformations. Our Values are beliefs that shape our performance; these ideals are the behaviours expected of all employees in DNV: We care for each other, our customers, our planet, and we take care of ourselves. We dare to explore, to experiment, to be different, and to be courageous, curious and creative. We share our experience and knowledge. We collaborate with each other and our customers, and we continue to grow and develop as a result.

 

5.How many R&D centres does DNV have and how does it work?

 

DNV has 10 research centres around the world. DNV allocates 5% of our annual revenue to strategic research, technology development, and innovation to provide a trusted voice and value to our customers and society at large. We focus our research on the impacts of decarbonization and digitalization for a wide range of industries, including the maritime, energy, healthcare, and food industry. In addition, we conduct research on digital assurance, the energy transition, supply chains, and the ocean space. We publish our research in scientific journals and in position papers.

 

6.Elaborate about DNV’s global presence?

 

DNV has offices in all corners of the world and operates in more than 100 countries. Some of the world's leading companies are our customers.Our local resources work closely with our global resources for niche and complex projects in India and this was very successful in several ways for customers to realise maximum values.

 

7.DNV recently signed an MOU with Korean floating solar component manufacturers. Could you shed some light on the same?

 

DNV has signed a Memorandum of Understanding (MOU) with Korean floating solar PV (FPV) suppliers which will explore business cooperation opportunities to increase the number of FPV plants in Korea and globally as the energy transition accelerates.We will exchange technical and proprietary information and know-how to develop and design systems following the requirements and practices of the global FPV market. We will also test and verify that these FPV solutions can perform reliably in saline environments. Both parties will identify the projects and needs of mutual interest and cooperate on joint marketing initiatives.

 

8.How is DNV going to participate in REI-2022 and what are your expectations from this big event?

 

DNV is one of the Conference Session Partners and we will share our insights on one of the conference panels. We also have an exhibition booth in the exhibition area to engage the REI visitors. Please visit our booth at 14.115 to get in touch with us. Naturally, we are excited to be at REI, one of India's most significant energy events. After a hiatus of 2+ years because of COVID, we want to meet our customers and prospects in person and have in-depth and meaningful conversations on their energy transition.

 

9.What are the key factors that inspired you to expand the business ventures in India?

 

India has set an ambitious target to achieve a capacity of 175 GW worth of renewable energy by the end of 2022, which expands to 500 GW by 2030.  According to DNV’s Energy Transition Outlook 2021, demand for hydrogen in the Indian subcontinent will reach nearly 25 million tonnes per annum by 2050, primarily for ammonia production, transportation, and refining. As a basis for green hydrogen production, the report also shows strong predicted growth in renewable generation in India, particularly solar photovoltaics, wind, and hydro power which will make up 65% of the country’s electricity generation mix by 2050.We also see investment in the renewable energy sector in India surged more than 125 per cent year-on-year, reaching $14.5 billion in the financial year 2021-22. All these indicate to us that the renewable energy industry in India will still be on the rise in the years to come. We want to leverage our technical expertise and methodology to help the Indian companies meet their emission reduction goals as India progress to achieve its renewables targets.