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Aditya Arora

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Faad Network • 1d

Went to IIT, left his US job and built a 20,000 CR renewable energy company in India. 1. After completing his Civil Engineering from IIT Delhi and an MBA from IIM Calcutta, Sumant Sinha worked with Tata Administrative Services as a management consultant. Within two years, he realized this was not his game and moved to investment banking at Citibank and ING Barings. ✅ 2. After a decade in New York and London, he was fed up with filling US and UK wallets. In 2002, he returned to India and joined Aditya Birla Group as CFO. And in 2007, he had his first landmark deal - Aditya Birla's Hindalco acquired Novelis for 25,000 CR. But he had other things in mind. 🤔 3. He wanted to contribute to the environment. In 2008, he moved to Suzlon Energy as COO and realized that solar and Wind energy were both environmentally urgent and economically viable. India was at 12% consumption but needed 30% in the next twenty years. 🔌 4. He left Suzlon in 2011 and started a renewable energy company with all his savings, a small office in Mumbai and just three employees. After a decorated career of 21 years, he wanted to build a cleaner India. In January 2011, ReNew Power was born. 🚀 5. Sumant's first move was a masterstroke - India's 54% of 90,313 MW energy requirement in 2011 came from Wind energy, so he launched a 25.2 MW wind farm in Jasdan, Gujarat. The plant was so successful that it raised 1000 CR from Goldman Sachs within six months. 💰 6. Sumant wanted to reach 1 gigawatt capacity by 2015. Although Wind was 54%, he needed 30 MW per square kilometre of solar to achieve his 1 GW goal. In 2014, ReNew won its first solar power bid, a 57.6 MW project in Madhya Pradesh to install solar panels on residential houses. 🎛️ 7. Despite policy uncertainties, payment delays from state electricity boards, and a highly competitive bidding environment, Sumant had crossed 1000 CR revenue in 2015 and doubled his goal to 2 GW by 2017. It became the first Indian renewable energy company to do this. 🙌 8. It focused on robotic solar panel cleaning and advanced wind forecasting analytics to scale. It had a series of firsts - India's Tallest hybrid wind towers at 120 meters, green bonds, and India's largest single-site solar plants at 510 MW in Telengana. The big moment came two years later, when it scaled to 5 GW by 2019. 📈 9. In August 2021, ReNew merged with RMG Acquisition Corporation II and became the first Indian renewable energy company to list on NASDAQ through a special purpose acquisition company (SPAC) merger. It raised over 10,000 CR. 💸 10. Today, ReNew clocks a revenue of 9,563 CR at a profit of 414 CR. At a clean energy capacity of 19,492 GW annually, powering 53 lakh homes, it has an 8% market share of India's renewable energy capacity. 💪 ➡️Saving 16 million tonnes of greenhouse gas emissions and 0.358 million cubic metres of water, Sumant Sinha has not only created a 20,000 CR company but also impacted the lives of 14 lakh people. 🙏

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