Richard Kinder

The worldwide energy storage systems are expecting exponential growth. According to research, global energy storage systems was worth US$210.92 bn by 2021. Towards 2030, the market will be worth US$435.32 bn. The industry is witnessing exponential growth that thrives on specific trends. The demand for grid energy storage systems is a key trend. Besides, there have been promising changes concerning electrification initiatives in rural areas. The industry offers exponential growth opportunities, and the time is apt to bring in the requisite improvements. Grid-stored energy is mostly either wind energy or solar energy. However, energy generation relies on natural features such as clouds blocking the sun or frequently altering wind currents.

To minimize the impact of these changes, the industry requires grid energy storage technologies that are highly flexible. As a result, enterprises in the oil and gas sector have to adopt a flexible approach that syncs with the recent changes. Enter Kinder Morgan, with its specialized emphasis on extending energy storage and transportation services in an efficient, environmentally-friendly, and secure manner. Moreover, the company ensures that its approach is refined to benefit businesses, communities, and people. The company’s top leadership includes Richard D. Kinder as the Executive Chairman. Kinder is a member of the enterprise’s Office of the Chairman. He is one of the co-founders of Kinder Morgan. Kinder Morgan is currently the most prominent energy infrastructure firm in the U.S. The enterprise operates presently or owns around 83,000 miles of pipeline.

The enterprise was established in 1997. As the executive chairman, Mr. Kinder is accountable for executing and developing the firm’s strategy and vision. He is also responsible for allocating capital to different business units in a safe manner. The leadership has been instrumental in developing the firm as a corporate with around 11,000 employees from a small company with a strength of approximately 175 employees. Earlier, he was the C.E.O. of Kinder Morgan, a tenure that lasted between 1997 and ended in June 2015.

RECOGNITION AND AWARDS

Kinder Morgan’s name features among the ‘Most Admired Firms in America’ list by Fortune magazine. Earlier, the firm was recognized as the top firm among various industries for excellence in ‘Quality of Management.’ Morningstar has selected Mr. Kinder for the C.E.O. of the Year award.

EARLY LIFE

Kinder was born in Missouri in 1944. He earned a B.A. in 1966, besides a J.D. in 1968 awarded by the University of Missouri. Later, he served as Captain in the U.S. Army in Vietnam.

HE HAS HAD DIFFERENT STINTS WITH SEVERAL NON-PROFIT AND CORPORATE BOARDS.

His career in the energy sector began as an attorney with the Florida Gas Transmission, later renamed Enron Corporation. He was the C.E.O. and President of Enron between 1990 and 1996. In 1996, he ended his association with Enron. He had plans to start an entirely new pipeline firm. Instead, his goals and efforts ultimately led to the formation of Kinder Morgan in partnership with William. V. Morgan. The duo began by procuring Enron Liquids Pipeline L.P. Enron liquids was a natural gas conduit business that Enron was looking forward to casting off for around $40 mn. Later, a series of deals took place. A significant one among them was K.N Energy, a reverse merger. In addition, the name Kinder Morgan was fixed around this time, and Richard Kinder went on to become a national pipeline player.

“When I was there, it was a much more pipeline and asset-oriented company. My whole experience has made me appreciate the fact that assets are the critical thing. Owning the assets. I use this ad nauseam, but our concept at Kinder Morgan is to be a toll road. If you own the Hardy Toll Road, you would not care what kind of cars go down the toll road – Mercedes or Chevrolets,” Kinder had said in an interview some years ago on his association with Enron. Besides his visionary zeal about the pipeline business, his colleagues vouch that Kinder’s remarkable ability to recall even the minutest financial and operational details has been his critical aspect.

THE KINDER FOUNDATION

Besides being an exceptional businessman, Richard Kinder has also shown interest in social causes. Kinder and his wife, Nancy Kinder, formed the Kinder Foundation in 1997. The foundation was initiated with the intention of providing support to public causes. As a result, several programs and projects have enhanced the quality of life, education, and urban green space in Houston, U.S. “The mission of the Kinder Foundation is to support Greater Houston as a model city for economic opportunity and quality of life by providing transformation grants in urban green space, education, and quality of life. The Kinder Foundation is intentional about “transformational giving.” Our priority is to make impactful gifts that transform Houston in significant ways. Through our grants, visionary projects are accelerated to success when they otherwise might not be achieved”, says the official site.

“When I was there, it was a much more pipeline and asset-oriented company. My whole experience has made me appreciate the fact that assets are the critical thing. Owning the assets. I use this ad nauseam, but our concept at Kinder Morgan is to be a toll road. If you own the Hardy Toll Road, you would not care what kind of cars go down the toll road – Mercedes or Chevrolets”