Mahua Acharya Joins C-Quest Capital As Chief of Staff

“Joining C-Quest Capital is an exciting opportunity for me to continue being innovative at scale, in order to make a meaningful impact in addressing climate change,” said Mahua Acharya.


C-Quest Capital (CQC), a leading carbon finance business dedicated to catalysing an energy transition across Africa and South Asia to mitigate climate change, is delighted to announce the appointment of Mahua Acharya as Chief of Staff. With an impressive background in energy transition, green finance, and carbon markets, Mahua Acharya brings a wealth of expertise and leadership to the CQC team.

Mahua is re-joining CQC after having managed the India business as its CEO in the early days of the company where she led the deployment of the first-of-its-kind, large-scale energy efficiency program for Indian households using carbon finance.

“Joining C-Quest Capital is an exciting opportunity for me to continue being innovative at scale, in order to make a meaningful impact in addressing climate change,” said Mahua Acharya. “My relationship with Ken goes back almost two decades when we were at the World Bank as he pioneered the creation of the carbon market. I am thrilled to be back to working with Ken as he continues to innovate at the forefront of the industry, and I look forward to working closely with the extremely talented team at CQC to drive positive change.”

As Chief of Staff at C-Quest Capital, Mahua Acharya will play a crucial role in managing the organization alongside the CEO. Her immediate focus will be on expanding CQC’s engagement in countries worldwide, and strengthening relationships with policy and regulatory communities, particularly in the context of carbon markets. With her deep knowledge and extensive network, Mahua is poised to drive CQC’s mission of transforming lives through access to clean energy technologies and sustainable land-use solutions.

“It is wonderful to team up with Mahua again, she is part of CQC history, and I am thrilled that we can once again do great things together,” said Ken Newcombe, CEO of CQC. “Her deep expertise in energy transition and carbon markets, combined with her remarkable track record of success, will be invaluable as we expand our efforts to combat climate change and promote sustainable development. Mahua’s appointment reinforces our commitment to creating lasting positive impacts for countries most affected by climate change.”

Prior to joining C-Quest Capital, Mahua Acharya served as the Managing Director and Chief Executive Officer of Convergence Energy Services Limited, a state-owned energy transition company of the Government of India. During her tenure, she spearheaded electric mobility initiatives in India, and created and led the world’s largest electric bus program, which achieved record prices lower than diesel alternatives making the program massively oversubscribed. Her ground-breaking work in the sector has earned her international recognition and acclaim.

With over two decades of experience, Mahua Acharya has made significant contributions to green finance, renewable energy, and carbon markets across multiple countries. She previously held the position of Assistant Director-General at the Global Green Growth Institute, an intergovernmental agency comprising 29 countries, where she worked on green investment schemes in 16 nations. Additionally, Mahua served as the Managing Director of a $50 million carbon credit-based impact investment business and established herself as an early pioneer in the carbon market while working at the World Bank in Washington D.C.

In addition to her impressive career accomplishments, Mahua Acharya holds the distinction of being a co-founder and faculty member of an executive education program at the prestigious Indian Institute of Management, Ahmedabad. She also serves on the boards of multiple international entities and has been recognized in various listings of women in leadership. In 2021 alone, Mahua received five prestigious awards that highlight her exceptional achievements and contributions to her field. She obtained her Masters’ degree from Yale University, further solidifying her expertise in the energy and environmental sectors.

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