Anil Ambani-owned Reliance Power has set up a renewable energy-business subsidiary Reliance NU Energies Pvt Ltd and appointed two top former executives from ReNew Power as the Chief Executive Officer (CEO) and Chief Operating Officer (COO).

The subsidiary will focus on solar, wind, hybrid systems and advanced energy storage, the company stated in an official release here, Tuesday. Mayank Bansal, appointed as the new CEO of Reliance NU Energies, brings 25 years of expertise in renewable energy and management consulting. Previously, he served as Group President of ReNew Power’s India RE Business, leading initiatives such as a digital transformation recognised by the World Economic Forum and scaling the platform to over 10 GW of operating capacity.

Rakesh Swaroop, who has been appointed as the COO, brings over 17 years of experience in start-ups and the energy sector. Previously, he was Vice-President and Head of Utility Business at ReNew Power and held leadership roles at PR Clean Energy, Agni Energy, and Siemens Power Engineering. 

The two energy sector veterans, with 40 years of combined experience, will helm Reliance NU Energies, which focuses on renewable energy solutions, from energy sources such as solar, wind, geothermal, and Firm and Dispatchable Renewable Energy (FDRE) to energy storage such as pump storage hydropower (PSP) and Battery Energy Storage System (BESS), the release added.