Hero Group's renewable energy arm Hero Future Energies is appointing Srivatsan Iyer as the global Chief Executive Officer who will be taking over from Sunil Jain.
"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," The Economic Times quoted Hero Future Energies' Chairman and Managing Director Rahul Munjal as saying.
Iyer, who will be taking over the charge from Jain at the end of January 2021, will focus on improving efficiency and strengthen internal business processes. Apart from this, Iyer also plans to increase innovation to reduce the costs of existing projects, besides making India an engineering hub for Hero Future's global operations.
Prior to join the HFE, Iyer used to work as the Vice President of Strategy & Planning and Innovation & Technology at Braskem in South America. He had also worked at McKinsey & Company and ExxonMobil Chemical in various roles.
An IIT Madras graduate, Iyer holds MS in Chemical Engineering from Virginia Polytechnic Institute and State University, PhD in Materials Science and Engineering from Virginia Polytechnic Institute and State University and an MBA from the University of Texas at Austin.Currently, HFE's 1,200 MW worth of wind and solar projects are operational in India, while another 1,500 MW are under construction. The firm aims to achieve a target of 5,000 MW by 2022.