Reliance Power Expands into Renewables with Reliance NU Energies

Reliance Power has started a new company, Reliance NU Energies, to focus on clean and sustainable energy. This new business aims to meet the growing need for affordable and reliable renewable energy in India and around the world.

To lead the venture, Reliance Power has appointed Mayank Bansal as Chief Executive Officer (CEO) and Rakesh Swaroop as Chief Operating Officer (COO). Both industry veterans bring extensive experience from ReNew Power, one of India’s leading renewable energy companies. Bansal previously served as Group President of ReNew Power's India Renewable Energy Business, while Swaroop was Vice President and Head of Utility Business at ReNew Power.

In a statement, Reliance Power highlighted the mission of its new subsidiary, saying, “Reliance NU Energies will innovate and seize opportunities to develop clean, affordable, and reliable energy solutions that align with India’s and the world’s growing sustainability needs.” The company outlined plans to focus on solar, wind, hybrid energy systems, and advanced energy storage technologies under the subsidiary's operations.

Reliance Power, a part of the Anil Ambani-led Reliance Group, currently operates an installed capacity of 5,300 MW. This includes the 4,000 MW Sasan Ultra Mega Power Project in Madhya Pradesh, which stands as the world’s largest integrated thermal power plant.

The move to establish Reliance NU Energies shows the company’s commitment to aligning with global energy transition trends, as India ramps up its renewable energy initiatives to meet climate goals and reduce its reliance on fossil fuels.