Reliance NU Energy Energy Entry in Renewable Energy

Reliance Power Share Price: Anil Ambani -led Reliance Group has taken a big step in the renewable energy sector. Reliance Power has formed a new company, Reliance NU Energies. The company will work in areas such as solar, wind energy, pump storage hydropower and battery energy storage systems.

After this announcement, the shares of Reliance Power saw a jump. The company said that Mayank Bansal has been appointed its CEO and Rakesh Swaroop has been appointed as COO.

The objectives and expansion of the new company

Reliance NU Energy has been formed with the aim of meeting the demand for growing clean energy in India and the world.

• The company’s focus is on developing clean, affordable, and reliable energy solutions.
• This company aims to bring a major change in the energy sector through modern techniques and innovation.

Mayank Bansal: Renewable Energy Giants

Mayank Bansal, CEO of Reliance NU Energy, has a 25 -year experience in renewable energy and management consultancy.

• He has played an important role in India’s largest renewable energy projects.
• Bansal, who studied B.Tech from IIT Bombay and MBA from ISB Hyderabad, was a group chairman of India RE Business of Renew Power.
• His expertise will help in accelerating the company’s strategic expansion plans and operational excellence.

Rakesh Swaroop: Experts in the Energy Sector

Rakesh Swaroop, the company’s COO, has a 17 -year experience in the startup and energy sector.

• He has proved his expertise in hybrid solutions, green hydrogen initiatives, and international expansion.
• Swaroop has played leadership roles in companies such as Reenu Power, PR Clean Energy, and Siemens Power Engineering.
• He has also been a part of the founding team of Silicon Valley’s biofuel startup Agni Energy.

Current capacity of Reliance Power

• Reliance Power Limited is one of the major power generation companies of India.
• The company has an established capacity of 5,300 MW.
• It operates a 4,000 MW Sasan large power project in Madhya Pradesh, which is the world’s largest integrated thermal power plant.

Stock market boom

After the announcement of Reliance NU Energy, there was a stir in the shares of Reliance Power.

• On Tuesday, the company’s stock opened at Rs 44.53 and went to Rs 45.30.
• It closed at Rs 44.66 at the end of the day.
• This year Reliance Power’s stock has given a 90% return, and experts hope that the formation of a new company may lead to a further boom.

Steps towards new energy

The formation of Reliance NU Energy is an indication that the Reliance Group is ready to strengthen its grip in the field of clean and sustainable energy.

• India’s green energy target will also be strengthened by detailed in the areas of renewable energy.
• The new company can play a big role in emerging sectors such as solar, wind, and battery energy storage.