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ReNew Power, India’s largest renewable energy company, announced that it has hired a Group Chief Financial Officer to drive its next phase in strong growth.
ReNew also has a new Chief Growth Officer and General Counsel who will lead the company’s expansion over the next ten years, including the push into green hydrogen and other clean energy segments. ReNew’s total gross portfolio has increased by nearly 20% to 12.1 GW at April’s end, from 10.2 GW at the start of 2022. Mercom India reports that ReNew will continue to be India’s largest utility-scale solar developer by 2021.
Kedar Upadhye was appointed Group CFO. His experience spans over 22 years. Before joining ReNew, he was the President and Global Chief Financial Officer at Cipla, India’s largest publicly traded pharmaceutical company with a market capital of around $US 9.8billion. He was the CFO of Cipla and managed the global finance and information technology departments. He also worked in multiple countries, including the US. His leadership experience includes core finance reporting, business partnership and business model realignment & optimization, corporate financing, global investor relations and several high-impact, cross functional transformational projects.
He was formerly VP and Head of Finance and Investor Relations at Dr. Reddy’s Laboratories, which is NYSE-listed. Kedar also served in leadership positions at PepsiCo, Thermax and other companies. He is a graduate of the Indian Institute of Management in Bangalore and a qualified company secretary as well as cost accountant.
“I’m excited to be a part of the ReNew’s inspiring growth journey as it expands its reach and impacts multi-fold. Kedar stated that he aspires to be ReNew’s strong partner in value creation, stakeholder delight and best-in class governance.
Vikash Jain joins ReNew as Global General Counsel. He comes with rich and varied international experience of over 26 years in compliance, governance, and litigation. In his last role, he was Group General Counsel for Vedanta Resources Limited, which included being General Counsel for Cairn Oil & Gas. Vikash has also held leadership roles at Transocean, Jubilant Energy, and Hindustan Oil Exploration Company. He is an MBA from the Indian School of Business, Hyderabad; holds an LLB from VSSD College, Kanpur; and is a qualified Company Secretary, as well as a Cost and Works Accountant.
Speaking about his appointment, Vikash said “I am excited to join the ReNew family. I look forward to contributing to its inspiring growth journey.”
Vikram Kapur, with over two decades of professional experience, joins in the newly created Chief Growth Officer role to help build new businesses such as green hydrogen and carbon markets, as well as international partnerships to enable the core and nascent businesses. Prior to joining ReNew, he spent 17 years at McKinsey & Company, where he was a senior partner leading the energy and material practice. He also was at Unilever for over four years. Vikram holds an MBA from the Indian School of Business, Hyderabad, and a B. Tech from the Indian Institute of Technology, Delhi.
On his new role at ReNew, Vikram said “I am really excited to join ReNew Power, which is at the forefront of driving the green energy transition in India. There are many new areas of growth such as green hydrogen and carbon markets and I look forward to building these businesses and contributing to the next phase of the company’s expansion.”
All three leaders will report to Sumant Sinha, Chairman and CEO, ReNew.
Speaking on the appointments, Sumant said “I am delighted to welcome Kedar, Vikash, and Vikram, whose recognized professional calibre, global expertise, and strategic insights will significantly add to our leadership capabilities as we capitalize on the strong growth opportunity across the clean energy spectrum to help India meet its climate goals.”
ReNew’s recent surge in its gross total portfolio comes after signing a number of Power Purchase Agreements with utilities and long-term purchase agreements with corporate buyers this year. It also announced a joint venture with L&T and IndianOil for green hydrogen last month. Earlier this year, it partnered with US-based stationary battery leader Fluence for energy storage in India.