India Business Journal - Reliance Power to set up new RE arm

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Reliance Power to set up new RE arm – Reliance NU Energies

IBJ Bureau
Dec 11, 2024

Reliance Power on Tuesday announced setting up its renewable energy business arm Reliance NU Energies. The company appointed Mayank Bansal as chief executive officer and Rakesh Swaroop as chief operating officer of the subsidiary.

Both of them have joined the company from ReNew. Mr Bansal was group president of ReNew Power’s India RE Business, and Mr Swaroop had served as vice-president and head of utility business at ReNew Power.

It has set up a new subsidiary, namely, Reliance NU Energies, for renewable energy business, Reliance Power has 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, a 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 operates the 4,000-mw Sasan Ultra Mega Power Project in Madhya Pradesh, the world's largest integrated thermal power plant.