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
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
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%.