Planning for 'aggressive growth' in the coming years, Indian renewable energy company Hero Future Energies (HFE) has announced the appointment of Srivatsan Iyer as the company's global CEO. Iyer will be taking over from Sunil Jain who is leaving the company and hand over complete charge within this month.
Describing his major job responsibilities, HFE Chairman and Managing Director Rahul Munjal said, "In this role, he will work towards strengthening HFE's presence in domestic markets and growing its global presence and will be responsible for the company's business and financial goals. Sri has the pulse of global market and is well informed about business drivers in various economies. He has vast experience of working in several blue-chip companies in several regions in the world and is well suited to lead HFE as we transform into a global organization."
Under Iyer's leadership, HFE will make India operations the knowledge, design and engineering hub for its global operations. HFE said Iyer will focus on people, strengthening internal business processes, driving project and operational excellence. He will steer the company towards adopting and integrating new technologies to bring down the cost of projects and improve efficiency.
Iyer comes to HFE from Brazilian petrochemicals company Braskem where he was the company's vice president of Strategy & Planning and Innovation & Technology. Before that he was the CEO and General Manager of Braskem Europe, based out of Germany. "Srivatsan's experience in turning around the business in Europe at Braskem is a great example of his ability to deliver in ambiguous situations," pointed out HFE.
The renewable energy arm of the Hero Group touts a portfolio of 1.7 GW of wind and solar power along with an additional 1.5 GW under construction or planned. By 2022, it aims to report 3.5 GW of installed and operational capacity. Other technologies is is interested in exploring are floating solar and energy storage, among others. The World Bank's International Finance Corporation (IFC) is one of the investors in the company. In November 2019, Abu Dhabi's Masdar took a 20% stake with $150 million investment in HFE (see Masdar Acquires 20% Stake In Indian RE Company).
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