Biography of Sumant Sinha: Founder of ReNew Power & CEO of Aditya Birla Retail
Biography of Sumant Sinha:
Early Life and Education
Sumant Sinha was born on February 12, 1965, in Delhi, India,
into a family with a strong academic background. His father, Yashwant Sinha,
and mother, Nilima Sinha, provided a supportive environment for learning.
Sumant attended St. Columba's School in Delhi, where he completed his
schooling. Driven by a passion for engineering, he pursued a degree in
engineering at the Indian Institute of Technology (IIT) Delhi, graduating in
1987. Seeking further education, he obtained a Post Graduate Diploma in
Business Management from the Indian Institute of Management (IIM) Calcutta in
1989. His quest for knowledge took him to New York, where he earned a Master’s
degree in International Affairs from Columbia University in 1991.
Early Career
Sumant’s professional journey began with Tata Administrative
Services, where he worked for two years starting in 1989. This experience
provided him with a solid foundation in management and business operations. He
then transitioned into the world of investment banking, holding positions at
Citicorp Securities and ING Barings, where he worked in both the US and the UK.
These roles helped him gain valuable experience in financial management and
international business.
Return to India and Major Corporate Roles
In 2002, Sumant returned to India and took on the role of
Chief Financial Officer (CFO) at the Aditya Birla Group. During his tenure, the
company made significant acquisitions, including Ultratech Cement, Novelis, and
Idea Cellular. Sumant played a key role in these strategic moves, which were
crucial for the group's expansion. He also spearheaded the creation of Aditya
Birla Retail Limited, where he served as CEO from 2007 to 2008, further
showcasing his leadership skills.
Leadership at Suzlon Energy
In 2008, Sumant joined Suzlon Energy, one of India’s largest
wind energy companies at the time, as Chief Operations Officer. His work at
Suzlon was instrumental in advancing the company’s operations in the renewable
energy sector, preparing him for future entrepreneurial ventures in clean
energy.
Founding ReNew Power
In 2011, Sumant founded ReNew Power with a vision to
revolutionize the renewable energy sector. His goal was to create a major
player in the clean energy market, and he achieved this by leading ReNew from
its inception to becoming one of India’s largest independent renewable energy
producers. Under his leadership, ReNew Power has built a substantial portfolio,
reaching approximately 5,800 MW of commissioned capacity within six years.
Biography of Sumant Sinha: Founder of ReNew Power & CEO of Aditya Birla Retail/Investor/Success story of Sumant Sinha/ReNew Power/Unicorn company
Growth and Achievements at ReNew
Sumant’s leadership has driven ReNew Power’s remarkable
growth. By 2023, the company’s clean energy portfolio had expanded to 13.4 GW,
making it one of the largest globally. This achievement underscores Sumant’s
commitment to advancing renewable energy and combating climate change. The
Sumant Sinha ReNew Centre of Excellence for Energy and Environment, established
at IIT Delhi in 2016, further reflects his dedication to fostering research in
renewable technologies.
Advocacy and Thought Leadership
Sumant is not only a successful entrepreneur but also a
passionate advocate for climate action and sustainable development. He
regularly speaks at prominent international forums such as the World Economic
Forum, UNFCCC COP, and Climate Week NY. His extensive writing on climate
change, renewable energy, and sustainable growth includes over 150 opinion
pieces and his book, Fossil Free, which explores India’s clean energy journey.
Expansive Portfolio
As of April 2022, ReNew Power boasts a substantial
portfolio, totaling approximately 12.1 gigawatts (GW) of renewable energy
projects across India. This impressive portfolio includes both commissioned and
committed projects, highlighting the company's significant role in advancing
renewable energy infrastructure. The diverse range of projects encompasses
utility-scale wind, solar, and hydro power, demonstrating ReNew Power's broad
expertise in various renewable technologies.
Achieving Unicorn Status
ReNew Power achieved unicorn status in 2017, marking a
significant milestone in its growth journey. The company reached this valuation
after raising $300 million through a rights issue, underscoring investor
confidence in its business model and future prospects. Becoming a unicorn
highlighted ReNew Power’s success in scaling its operations and its pivotal
role in the renewable energy sector.
Financial Milestones
In January 2022, ReNew Power further solidified its
financial standing by raising $450 million through a dollar bond issuance.
These bonds, with a tenor of 5.25 years, represented the first high-yield
issuance from the ASEAN and South Asian regions in 2022. This significant
fundraising effort reflects ReNew Power’s strong market position and its ability
to attract substantial investment in its renewable energy projects.
Innovative Financing Strategies
The successful issuance of dollar bonds demonstrates ReNew
Power’s innovative approach to financing its expansion and development
initiatives. By tapping into international capital markets, the company has
secured funding to support its ambitious growth plans and continue its
contributions to the global renewable energy landscape. This strategic move
highlights ReNew Power’s ability to navigate complex financial environments and
attract global investment.
Commitment to Sustainability
ReNew Power’s focus on renewable energy is driven by a
commitment to sustainability and environmental stewardship. The company’s
projects are designed to reduce carbon emissions and promote the use of clean
energy sources. By investing in wind, solar, and hydro power, ReNew Power plays
a crucial role in addressing climate change and advancing India’s energy
transition.
Pioneering Renewable Energy Projects
The scale and scope of ReNew Power’s projects illustrate its
leadership in the renewable energy sector. The company’s utility-scale wind and
solar projects contribute to a significant portion of India’s renewable energy
capacity. Additionally, ReNew Power’s involvement in hydro projects further
diversifies its portfolio and enhances its ability to provide reliable and
sustainable energy solutions.
Board Memberships and Leadership Roles
Sumant has served on the boards of prestigious institutions
including IIT Delhi, IIM Calcutta, and Columbia University’s School of
International and Public Affairs (SIPA). He chairs the Global Wind Energy
Council (GWEC) in India and is a member of the board globally. His involvement
with the US-India Strategic Partnership Forum and the First Movers Coalition
demonstrates his influence in shaping global energy policies.
Awards and Recognitions
Sumant’s contributions to the renewable energy sector have
earned him numerous accolades. In 2015, he was named Renewable Energy Leader of
the Year. The following years saw him receive various honors including the ET
Entrepreneur of the Year Award in 2018 and the EY Entrepreneur of the Year
Award in 2017. His achievements highlight his impact on the clean energy
industry and his leadership in promoting sustainable practices.
Family Life
Sumant Sinha is married to Vaishali Nigam Sinha, and the
couple has two children, Tarushi and Siddhant. His family has been a source of
support throughout his career, allowing him to focus on his professional
endeavors while balancing family life.
Current Roles and Influence
As of 2023, Sumant continues to lead ReNew Power and drive
its mission to accelerate the transition to net-zero energy. His work includes
providing comprehensive decarbonization solutions across various sectors, such
as green hydrogen, energy storage, and carbon markets. His role in shaping the
future of clean energy remains central to his career.
Advocacy for Sustainable Development
Sumant's dedication to climate action extends beyond his
business ventures. He chairs the US-India Strategic Partnership Forum and is a
member of the Board of the Global Wind Energy Council. His leadership in these
organizations reflects his commitment to advancing global sustainability
efforts and influencing international energy policies.
Academic Contributions
In addition to his corporate achievements, Sumant has
contributed to academia through his board memberships and advisory roles. He
has been recognized as a distinguished alumnus by IIT Delhi and IIM Calcutta,
and his work with Columbia University’s SIPA underscores his commitment to
advancing education and research in international affairs and energy policy.
Recognitions and Honors
Sumant’s efforts have been consistently recognized over the
years. He has been honored with awards such as the Renewable Energy Leader of
the Year and the ET Entrepreneur of the Year. These accolades celebrate his
significant contributions to the renewable energy sector and his role as a
leading figure in promoting clean energy solutions.
Continued Leadership and Innovation
Sumant Sinha’s career is marked by a continuous drive for
innovation and leadership in renewable energy. His achievements with ReNew
Power and his involvement in various global forums highlight his role as a
pioneer in the industry. His ongoing work aims to address climate challenges
and promote sustainable development on a global scale.
A timeline of Sumant Sinha's career and achievements:
February 12, 1965: Born in Delhi, India.
1987: Graduated from IIT Delhi with a Bachelor's in
Engineering.
1989: Completed Post Graduate Diploma in Business Management
from IIM Calcutta.
1991: Earned Master’s in International Affairs from Columbia
University.
1989-1991: Worked at Tata Administrative Services.
1991-1999: Investment banking roles at Citicorp Securities
and ING Barings.
2002: Became CFO at Aditya Birla Group.
2007-2008: Served as CEO of Aditya Birla Retail Limited.
2008: Joined Suzlon Energy as Chief Operations Officer.
2011: Founded ReNew Power.
2015: ReNew Power achieved unicorn status.
2016: Established Sumant Sinha ReNew Centre of Excellence at
IIT Delhi.
2017: Awarded EY Entrepreneur of the Year.
2018: Received ET Entrepreneur of the Year Award.
April 2022: ReNew Power's portfolio reached 12.1 GW.
January 2022: Raised $450 million through dollar bond
issuance.
2023: ReNew Power's portfolio expanded to 13.4 GW.
