Gurugram, India: Renew Power limited (“ReNew Power”), India’s leading Renewable energy company, today announced appointment of Mr. D Muthukumaran, as its new Chief Financial Officer (CFO). Mr. D Muthukumaran will oversee the company’s finance & accounts, legal and corporate finance functions.
He takes over the role following the retirement from the company of the current CFO, Ravi Seth, who has been with ReNew for over 5 years. Mr. Muthukumaran brings with him a wealth of experience in the field of finance. He has driven business portfolio, M&A deals, raised funds in debt and equity and specialises in structured finance, leverage buyouts and regulatory and tax structuring.
Sumant Sinha, Chairman & Managing Director of ReNew Power said: “We are excited to have Muthukumaran on board our leadership team. He brings over 2 decades of varied experience in the field of finance and will be a great asset to ReNew Power. I am confident that he will help propel ReNew’s next phase of growth. I also wish Ravi all the best, who retires after 5 exciting years at ReNew”.
Before joining ReNew Power, Mr. Muthukumaran was the Chief Executive Officer (CEO) of Aditya Birla PE Advisors Private Limited. During his 17 years with the Aditya Birla Group he also held positions of Chief Strategy Officer as well as Head of Group Corporate Finance. Prior to working with the Aditya Birla group he has worked with Lazard and Deloitte
Commenting on his new role, D Muthukumaran said: “I am delighted to join ReNew, India’s largest renewable energy company. I am also excited to be working in the clean energy space, which is expanding rapidly to provide a sustainable and viable solution in meeting India’s growing energy needs. I am looking forward to be a part of ReNew’s growth journey”.
Mr. Muthukumaran holds a degree as a Chartered Accountant, a Cost & Works Accountant and Bachelors of Commerce from University of Madras.
About ReNew Power
ReNew Power Limited is India’s largest renewable energy IPP (Independent Power Producer) in terms of total energy generation capacity. As of June 2019, ReNew had a total capacity of over 8 GW of wind and solar power assets across the country, including commissioned and under development projects. It develops, builds, owns and operates utility scale wind and solar energy projects as well as distributed solar energy projects that generate energy for commercial and industrial customers. ReNew has a strong track record of organic and inorganic growth having nearly doubled its operational capacity in each of the last three Fiscal Years. ReNew’s broad base of equity investors include Goldman Sachs, JERA, ADIA, CPPIB, and GEF SACEF India.