Reliance Power Launches Renewable Energy Arm, Appoints CEO and COO
Reliance Power has launched its renewable energy division, Reliance NU Energies, and appointed Mayank Bansal as CEO and Rakesh Swaroop as COO of the subsidiary. Both executives join from ReNew, with Bansal previously serving as Group President for ReNew Power’s India RE Business and Swaroop as Vice President and Head of the Utility Business.
It has set up a new subsidiary namely Reliance NU Energies for renewable energy business, Reliance Power said in a statement.
"The new subsidiary Reliance Nu will innovate and seize the opportunities in developing clean, affordable, and reliable energy solutions that India and the world's growing demand for sustainability needs", it said.
Reliance Nu focuses on solar, wind, hybrid systems, and advanced energy storage to address these needs. On the appointment of CEO and COO, Reliance Power said the two energy sector veterans will helm Reliance Power's new initiative, Reliance NU Energies.
Reliance Power, part of the Anil Ambani-led Reliance Group, is one of India's prominent power generation companies. With an installed capacity of 5,300 MW, it runs the 4,000 MW Sasan Ultra Mega Power Project in Madhya Pradesh, the largest integrated thermal power plant in the world.