Reliance NU Energies Makes Key Appointments

Reliance NU Energies Private Limited, a subsidiary of Reliance Power, has inducted two key people in its leadership: Mayank Bansal as Chief Executive Officer (CEO) and Rakesh Swaroop as Chief Operating Officer (COO), who have a combined experience of over 40 years in the energy sector.

The two energy sector veterans will helm Reliance Power’s new initiative, 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)

Mayank Bansal, the new CEO of Reliance NU Energies, brings 25 years of expertise in renewable energy and management consulting. Based in Delhi, previously, Mayank 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. Earlier roles have included stints at  A.T. Kearney and McKinsey.

He is a graduate of IIT Bombay (B.Tech.) and ISB (MBA).

Rakesh Swaroop, Reliance NU Energies’ COO, brings over 17 years of experience in startups and the energy sector. Based in Delhi, he has contributed significantly to business growth, partnerships, and innovation in renewable energy, with expertise in hybrid solutions, energy storage, international expansion, and Green Hydrogen initiatives.

Previously, Rakesh served as Vice President and Head of Utility Business at ReNew Power and held leadership roles at PR Clean Energy, Agni Energy, and Siemens Power Engineering. At Agni Energy, a Silicon Valley biofuels startup, he was part of the founding team and spearheaded product development. Rakesh earned a B.Tech. in Mechanical Engineering from MNIT in 2007.

Reliance Power Limited launched the new subsidiary, Reliance Nu, to grab opportunities in developing clean energy solutions.

Reliance Power Limited, part of the Reliance Group, is one of India’s prominent power generation companies. With an installed capacity of 5,300 MW, it operates the 4,000 MW Sasan Ultra Mega Power Project in Madhya Pradesh, the world’s largest integrated thermal power plant.