Reliance Power has announced setting up its renewable energy business arm Reliance NU Energies.
The company will focus on solar, wind, hybrid systems, and advanced energy storage.
It has appointed Mayank Bansal as Chief Executive Officer and Rakesh Swaroop as Chief Operating Officer of the subsidiary.
Both veterans have joined the company from ReNew Power where Mr Bansal was the Group President for India RE Business and Mr Swaroop served as Vice President and Head of Utility Business.
“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,” Reliance Power said in a statement.
