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Indian Reliance Industries to ramp up its headcount for its newly created clean energy business

The company has started setting up teams for its newly created renewable energy business at a breakneck speed, appointing multiple CEOs and executive assistants to the chairman's office at top salaries

Indian Reliance Industries to ramp up its headcount for its newly created clean energy business

New Delhi, July 2 - Neftegaz.RU.Executive search firms have been asked to recruit specialists from diverse areas of clean energy business from across geographies.
A person directly aware of the matter told ET:
  • Senior-level hirings are at an unprecedented level with multiple CEOs and EAs getting appointed
  • No cost is being spared to recruit clean energy specialists from across geographies... some are posted in the Middle East and some in India
Deepak Thakur, CEO of hybrid energy & storage business and e-mobility at Sterling and Wilson, and Kapil Maheshwari, CEO of Hinduja Renewables, have joined the company, industry insiders told ET.

Other hires include Anshul Khandelwal, a former executive at Adani Group who joined Reliance Industries as strategic leader for new energy in February, and Karan Suri, a former executive director at Morgan Stanley who joined the strategy & planning wing of Reliance Industries in May.

Last week, Reliance Industries Chairman and the richest person in India, Mukesh Ambani, has revealed that his company will invest $10.1 billion in clean energy over 3 years with an aim to become a net carbon zero company by 2035.
Ambani said:
  • The world is entering a new energy era, which is going to be highly disruptive
  • The age of fossil fuels, which powered economic growth globally for nearly 3 centuries, cannot continue much longer
India’s nascent renewable sector is full of opportunities and is constantly growing.
With an installed renewable energy capacity of 94.43 GW (as of February), it has attracted investment worth $42 billion since 2014.

According to the Indian Brand Equity Foundation, India could see investments of around $500 billion in its new energy industry by 2028.
By 2040, the Foundation also says, around 49% of the total electricity in India will be generated by renewable energy, with more efficient batteries used to store power, which will, in turn, cut solar energycosts by 66%.

Source : Neftegaz.RU

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