Anil Ambani-led Reliance Power forms new arm for renewable energy business

Reliance Power, part of the Reliance group headed by top businessman Anil Ambani, on Tuesday announced the establishment of a renewable energy arm, Reliance NU Energies. The group also announced the appointments of Mayank Bansal as Chief Executive Officer and Rakesh Swaroop as Chief Operating Officer. Bansal and Swaroop joined the company from ReNew.

Reliance Power said that Bansal and Swaroop, both energy sector veterans, will helm Reliance Power's new initiative, which will focus on solar, wind, hybrid systems, and advanced energy storage to address these needs.

The appointments come at a time when a decarbonisation drive in the country requires scalable and cost-effective green energy solutions.

Prior to joining Reliance NU Energies, Bansal served as Group President of ReNew Power's India RE Business, and Swaroop was Vice President and Head of Utility Business at ReNew Power.

Reliance NU Energies 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, according to the group. 

Reliance Power is one of the country's prominent power generation companies.

With an installed capacity of 5,300 MW, Reliance Power operates the 4,000 MW Sasan Ultra Mega Power Project in Madhya Pradesh, the world's largest integrated thermal power plant.

With innovation, the company will not only support the country's transition to cleaner energy sources but strengthen its position in the global renewable energy market

With inputs from agencies