Jump to content

Sumant Sinha

Add links
From Wikipedia, the free encyclopedia

This is an old revision of this page, as edited by Ch.th (talk | contribs) at 09:35, 17 March 2018. The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.

Sumant Sinha
Born
Delhi, India
Alma mater
OccupationChairman & CEO of ReNew Power
SpouseVaishali Sinha
ChildrenTarushree
Parent(s)Yashwant Sinha, Nilima Sinha
Websitesumantsinha.com

Sumant Sinha (born February 1965)[1] is a former Indian investment banker and a noted entrepreneur of recent times entrepreneurship in the Indian renewable energy sector. After a decade-long banking career in the U.S. and England[2], Sumant returned to India in 2002 and became the Chief Financial Officer of Aditya Birla Group[3]. Later, he went on to become the Chief Operations Officer of Suzlon Energy[4]. In 2011, he founded ReNew Power, an independent renewable power producer headquartered in Gurgaon, India. With Sumant at the position of Chairman and CEO, ReNew Power is one of the largest renewable energy producers in India today.[5][6] In a recent report, it was mentioned that his company has reached 2 gigawatt production capacity.[7] ReNew Power is reportedly the first independent power production (IPP) company in India to cross one gigawatt of renewable energy.[8]

Personal Life and Education

Sumant Sinha was born in Delhi[9]. Sumant’s mother Nilima Sinha[10] is an author of children’s books and his father Yashwant Sinha is a civil servant-turned politician and former Finance Minister[11]. Sumant’s brother Jayant Sinha is the present Minister of State for Civil Aviation[12]. He has a sister named Sharmila Kanth (née Sinha)[13]. Sumant is married to Vaishali Sinha[14] and has a daughter by name Tarushree[9]. Sumant graduated with a Bachelors in Technology from the Indian Institute of Technology, Delhi, followed by a Masters in Business Administration from Indian Institute of Management, Calcutta[15]. After two years of working, Sumant went on to take a Masters in International Finance from the Columbia University’s School of International and Public Affairs[16].

Career

After graduating from Indian Institute of Management and before joining Columbia University, Sumant joined Tata Administrative Services as a Manager, where he worked for two years[16]. After his graduation from Columbia University Sumant spent over a decade in international finance, mostly with Citicorp Securities and ING Barings in New York. Later, he joined Aditya Birla Group as its Chief Financial Officer. It was during his time as CFO that Aditya Birla Group acquired Ultratech Cement, Novelis, and Idea Cellular[17]. Sumant was also instrumental in the creation of Aditya Birla Group’s retail arm, Aditya Birla Retail Limited, where he served as Chief Executive Officer from 2007-08[16].

In 2008, Sumant joined Suzlon, then India’s largest wind-energy company, as the Chief Operating Officer.[18] A month after he joined Suzlon, the 2008 financial crisis struck, weakening the company’s business model.[19] He worked the next 15 months in Suzlon, helping it through the crisis. After exiting from Suzlon in 2010, Sumant started Savant Advisors[20], an investment banking and consulting firm. Then, in 2011, he founded ReNew Power Ventures Private Limited,[21] a clean energy company.

ReNew Power Ventures

ReNew Power began its operations with about 85 megawatts (MW) capacity - 25.2 MW of capacity from wind farms in Gujarat and a 60 MW wind farm in Maharashtra under construction[22][23]. In early 2012, Sumant set a road-map to have at least 1000 MW of capacity by 2015[24]. It is reported that Sumant drove ReNew Power at breakneck speed, going from zero to 2,300 MW of commissioned capacity in six years[25][26], to make it one of India’s largest independent renewable energy producers[27][28]. According to a media report in November 2017, the company was in talks to acquire the wind power assets of the KC Thapar Group in a Rs. 1,000-crore deal[29]. As per the recent reports, ReNew Power Ventures has inked a pact with Uttar Pradesh government to produce the power of 1200 megawatt capacity[30] at UP Investors Summit 2018. The project is reportedly expected to generation an employment of 5500 to 6500 numbers in the Uttar Pradesh state. The company proposal to develop 1,000 MW of installed capacity for solar power projects alongside another 200 MW for waste-to-energy projects is in line with the India’s goal to provide access to energy for all through clean energy[31].

Public and Media Appearances

References

  1. ^ "People often confuse noise with aggression: Sumant Sinha - Livemint". www.livemint.com. Retrieved 12 March 2018.
  2. ^ "Sumant Sinha, Rahul Munjal emerge as poster boys of India's renewable energy sector | Forbes India". Forbes India. Retrieved 12 March 2018.
  3. ^ "How a banker ReNewed his career". @businessline. Retrieved 12 March 2018.
  4. ^ "Ideas to Innovation series: In conversation with the EY Entrepreneur of the Year Award Winner 2017 (Part 3)". The Economic Times. 6 March 2018. Retrieved 12 March 2018.
  5. ^ Tyagi, Chhavi (4 September 2017). "Powering on: Goldman Sachs-backed ReNew Power Ventures is India's largest clean energy company". The Economic Times. Retrieved 12 March 2018.
  6. ^ "ReNew Power Ventures: Impressing investors with outstanding performance | Forbes India". Forbes India. Retrieved 12 March 2018.
  7. ^ "Why Sumant Sinha is betting on the wind". Rediff. Retrieved 12 March 2018.
  8. ^ "ReNew Power becomes first IPP to cross 1GW of renewable capacity | Forbes India". Forbes India. Retrieved 12 March 2018.
  9. ^ a b "rediff.com: Meet Sinha Jr: Managing finance runs in the blood". www.rediff.com. Retrieved 12 March 2018.
  10. ^ "Nilima Sinha – Publishing Next". www.publishingnext.in. Retrieved 12 March 2018.
  11. ^ PTI (22 June 2004). "Yashwant Sinha: A brief profile". Hindustan Times. Retrieved 12 March 2018.
  12. ^ "As many as 92 new flight routes in North-east under Udaan-2 scheme, says Jayant Sinha". The Indian Express. 21 November 2017. Retrieved 12 March 2018.
  13. ^ "Family power for Yashwant - Wife, children campaign". The Telegraph. India. 11 April 2009. Retrieved 12 March 2018.
  14. ^ Kalesh, Baiju (5 April 2014). "Vaishali Nigam Sinha's journey from i-Banking to iCharity". The Economic Times. Retrieved 12 March 2018.
  15. ^ "Sumant Sinha starts own firm | Latest News & Updates at Daily News & Analysis". dna. 21 April 2011. Retrieved 12 March 2018.
  16. ^ a b c "Sumant Sinha: Executive Profile & Biography". Bloomberg. Retrieved 12 March 2018.
  17. ^ "Sumant Sinha starts own firm | Latest News & Updates at Daily News & Analysis". dna. 21 April 2011. Retrieved 17 March 2018.
  18. ^ "Meet & Greet with Sumant Sinha, Founder & CEO, ReNew Power Venture | Clean Energy Leadership Institute". www.cleanenergyleaders.org. Retrieved 17 March 2018.
  19. ^ "Why Sumant Sinha chose clean energy over politics". Rediff. Retrieved 17 March 2018.
  20. ^ "Sumant Sinha starts own firm | Latest News & Updates at Daily News & Analysis". dna. 21 April 2011. Retrieved 17 March 2018.
  21. ^ Malik, Aman (18 April 2014). "The business interests of Jayant Sinha". http://www.livemint.com/. Retrieved 17 March 2018. {{cite news}}: External link in |work= (help)
  22. ^ "Goldman Sachs-backed Firm to Invest $1.1 Billion in Indian Wind Energy Sector | CleanTechnica". cleantechnica.com. Retrieved 17 March 2018.
  23. ^ "Post Suzlon, Sumant Sinha gets Goldman cash to reap the wind | Latest News & Updates at Daily News & Analysis". dna. 27 September 2011. Retrieved 17 March 2018.
  24. ^ "ReNew Power Ventures: Impressing investors with outstanding performance | Forbes India". Forbes India. Retrieved 17 March 2018.
  25. ^ Ghoshal, Devjyot. "A former Wall Street banker is building India's largest clean energy company". Quartz. Retrieved 17 March 2018.
  26. ^ "Finkel report: governments should control electricity market to change weather « JoNova". joannenova.com.au. Retrieved 17 March 2018.
  27. ^ "Post Suzlon, Sumant Sinha gets Goldman cash to reap the wind | Latest News & Updates at Daily News & Analysis". dna. 27 September 2011. Retrieved 17 March 2018.
  28. ^ Barman, Arijit (20 December 2011). "Lunch with BS: Sumant Sinha". Business Standard India. Retrieved 17 March 2018.
  29. ^ Chandrasekaran, Kaavya (21 November 2017). "ReNew Power to buy wind power business of KC Thapar Group for Rs 1,000 crore". The Economic Times. Retrieved 17 March 2018.
  30. ^ "ReNew Power inks pact with UP govt to set up 1200 MW renewable energy capacity". India Today. Retrieved 17 March 2018.
  31. ^ India, Press Trust of (21 February 2018). "ReNew Power inks pact with UP govt to set up 1200 MW renewable energy capacity". Business Standard India. Retrieved 17 March 2018.
Retrieved from "https://en.wikipedia.org/w/index.php?title=Sumant_Sinha&oldid=830862370"