Reliance Power announces renewable energy subsidiary; appoints CEO & COO
Mumbai: Reliance Power announced the launch of its renewable energy subsidiary, Reliance NU Energies, on Tuesday.
Mayank Bansal will be the Chief Executive Officer and Rakesh Swaroop will assume the role of Chief Operating Officer of Reliance NU Energies.
Both executives come from ReNew Power, where Bansal worked as Group President of the India Renewable Energy Business, and Swaroop held the position of Vice President and Head of the Utility Business.
In a statement, Reliance Power said the new subsidiary aims to drive innovation and capitalize on opportunities to develop clean, affordable, and reliable energy solutions to meet India's and the world's growing sustainability demands.
Reliance NU Energies will focus on solar, wind, hybrid systems, and advanced energy storage technologies.
Commenting on the appointments, Reliance Power emphasized that Bansal and Swaroop, with their extensive experience in the energy sector, will lead the company's latest initiative.
Part of the Anil Ambani-led Reliance Group, Reliance Power is among India's leading power generation companies.
It operates the 4,000 MW Sasan Ultra Mega Power Project in Madhya Pradesh, the world's largest integrated thermal power plant, contributing to the company's total installed capacity of 5,300 MW.
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