Top exits at Reliance NU Energies amid restructuring phase

Reliance NU Energies, the renewable energy subsidiary of Reliance Power, has seen major leadership changes with the resignation of Chief Executive Officer Mayank Bansal and Chief Operating Officer Rakesh Swaroop. Their departure comes less than a year after the company’s establishment in December 2024.

Bansal and Swaroop, both of whom previously held senior positions at ReNew, stepped down on September 30. Around a dozen other executives have also left the firm in recent months, according to people familiar with the matter.

In a statement, Reliance Power said the two executives resigned to pursue independent entrepreneurial opportunities. It added that several colleagues who joined during their tenure have also moved on to join them.

The company said NU Energies continues to operate with a capable leadership team and is bringing in new professionals to strengthen its operations. Project development activities remain on schedule, according to the statement.

Reliance Power launched NU Energies to lead its clean energy expansion, with plans to develop solar and hybrid power projects across India. The leadership exits come as the parent company faces heightened scrutiny from enforcement agencies.