Sanjeev Aggarwal
{{short description|Indian businessman|bot=PearBOT 5}}
{{Use dmy dates|date=November 2019}}
{{Use Indian English|date=February 2018}}
{{Infobox person
| name = Sanjeev Aggarwal
|image = Sanjeev Aggarwal.jpg
| birth_date = {{Birth year and age|1970}}
| nationality = Indian
| education = PGDM
| alma_mater = IIM Ahmedabad; Jamia Millia Islamia
| occupation = Chairman & Former CEO of Amplus Solar
}}
Sanjeev Aggarwal (born 1970) is an Indian businessman. He is the founder of energy company Amplus Solar, acquired 100% in 2019 by Petronas for US$391 million, for which he was the former CEO. He exited Amplus in 2022 and founded Renewable Energy and Decarbonization platform Hexa Climate {{cite web|title= Amplus founder, I Squared Capital set up Hexa Climate Solutions|url=https://www.livemint.com/industry/energy/amplus-pe-fund-set-up-hexa-climate-solutions-11698599378952.html}} in 2023. As in May 2024, he is acting as the Executive Chairman at Hexa Climate. Hexa's group firms are present in over seven countries, including Japan, Malaysia, Taiwan, South Korea, Singapore, Philippines, and now in India. Sanjeev also received the Federation of Indian Chambers of Commerce and Industry young leaders award in 2013.
Personal life and education
Aggarwal studied mechanical engineering from Jamia Millia Islamia, New Delhi.{{cite web|title= Sanjeev Aggarwal| url=https://www.linkedin.com/in/sanjeevaggarwal?originalSubdomain=in}} He holds a Postgraduate Diploma in Management (PGDM, equivalent to MBA) from Indian Institute of Management, Ahmedabad.{{cite web|title=Sanjeev Aggarwal: Executive Profile & Biography – Bloomberg|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=235053618&privcapId=309875616|publisher=Bloomberg L.P.|accessdate=16 December 2017}}
Aggarwal resides in Gurgaon, India,{{Cite web|title=Sanjeev Agarwal, Gitanjali Exports Corp Ltd: Profile and Biography|url=https://www.bloomberg.com/profile/person/17399140|access-date=2021-05-12|website=Bloomberg.com|language=en}}{{failed verification|date=May 2021}} where Hexa Climate is headquartered.{{cite news|last1=Dutta|first1=Sanjay|title=India solar tariff drops below cost of coal-fired power|url=https://timesofindia.indiatimes.com/india/india-solar-tariff-drops-below-cost-of-coal-fired-power/articleshow/58602690.cms|accessdate=26 January 2018|work=The Times of India|date=10 May 2017}}
Career
Prior to starting Hexa Climate, Sanjeev was the founder, MD & CEO of green energy company Amplus Solar. Before Amplus Energy, Aggarwal worked at AES India, the Indian subsidiary of the US fortune 200 company AES Corporation.{{cite news|last1=Yee|first1=Amy|title=AES plans $2.8bn India power plants|url=https://www.ft.com/content/25d1b23a-a9b7-11dc-aa8b-0000779fd2ac|accessdate=26 January 2018|work=Financial Times|date=14 December 2007}} At AES, Aggarwal was involved in the development of AES's bulk capacity greenfield project, a 1200 MW electricity plant with a combined captive coalmine in Chhattisgarh. After Aggarwal's departure from AES in March 2010, he tried multiple businesses which almost led him to becoming insolvent, they included bidding for hydrocarbon blocks (no blocks were awarded), setting up a gas plant (gas turned out to be a poor business).{{cite news|last1=Aggarwal|first1=Mayank|last2=Bhaskar|first2=Utpal|title=Amplus Energy: cutting out the middleman|url=http://www.livemint.com/Industry/0bFZ2S95Zk4IV0Y63G4GOJ/Amplus-Energy-cutting-out-the-middleman.html|accessdate=16 December 2017|work=Live Mint|date=28 April 2017}}{{cite news|last1=Singh|first1=Seema|title=Why rooftops are the sunniest for Amplus and Cleanmax|url=https://the-ken.com/story/rooftop-solar-amplus-cleanmax/|accessdate=23 July 2020|work=The Ken|date=18 December 2017}}
Aggarwal started Amplus Energy Solutions in 2010, got the first solar rooftop contract in 2013 and raised {{₹|3.2}} crore (equivalent to US$400,000 in 2023) from family and friends. In 2015 he secured an investment of US$150 million in equity funding from I Squared Capital, an American investing company. {{as of|2017}}, Amplus is one of the largest companies in the OPEX project development space according to Bridge To India, a consultancy and knowledge services provider specialising in renewable energy.{{cite news|title=Bridge to India cuts rooftop solar forecast to 10.8 GW by 2021|url=https://economictimes.indiatimes.com/industry/energy/power/bridge-to-india-cuts-rooftop-solar-forecast-to-10-8-gw-by-2021/articleshow/61918332.cms|accessdate=26 January 2018|work=The Economic Times|date=4 December 2017}} In 2019, Amplus was acquired 100%{{cite news|title=Malaysia’s Petronas acquires Singapore-based Amplus Energy|url=https://www.financialexpress.com/industry/malaysias-petronas-acquires-singapore-based-amplus-energy/1549103/|accessdate=24 July 2020|work=The Financial Express (India)|date=16 April 2019}} by Petronas for US$391 million (about ₹2700 Crore); Aggarwal continued as CEO.{{cite news|title=Malaysia’s Petronas buys Amplus Energy|url=https://indiaincgroup.com/malaysias-petronas-buys-amplus-energy-india-global-business/|accessdate=23 July 2020|work=India Inc.|date=16 April 2019}} Aggarwal and his company have been the subject of a case study by Indian Institute of Management, Ahmedabad.{{cite thesis|last1=Medicherla|first1=Kiran|last2=Agarawal|first2=Shrey|last3=Jamar|first3=Arushi|last4=Garg|first4=Amit|title=Amplus Solar - The Sky is the Limit|url=https://cases.iima.ac.in/index.php/amplus-solar-the-sky-is-the-limit.html|accessdate=24 July 2020|publisher=Indian Institute of Management, Ahmedabad|date=28 March 2018}}
Aggarwal writes articles on various industry blogs and newspapers such as LiveMint{{cite news|last1=Aggarwal|first1=Sanjeev|title=Decontrol the power sector|url=http://www.livemint.com/Opinion/5RbKsXd1wlAAqbachUDDVN/Decontrol-the-power-sector.html|accessdate=26 January 2018|work=Livemint|date=12 August 2012}} and VCCircle{{'s}} Infracircle.{{cite web|title=Sanjeev Aggarwal's articles on Infracircle|url=https://www.vccircle.com/company/hexa-climate-solutions/|website=Infracircle|accessdate=26 January 2018}} He is on various industry committees, including on the Infrastructure Power Committee of the American Chamber of Commerce in India (AmCham India), India Electricity 2009 Advisory Council, and the Federation of Indian Chambers of Commerce and Industry Power Committee.
Awards and recognition
Aggarwal received the Federation of Indian Chambers of Commerce and Industry (FICCI) young leaders award in 2013{{cite news|url=https://ceoawards.finance-monthly.com/previous-editions/2016/94/|title=Finance Monthly global CEO awards 2016|work=Finance Monthly|page=94}} and was featured in Finance-Monthly global CEO awards in 2016. In 2017 he was listed in Solar Quarter magazine's 100 most powerful leaders in the Solar Industry.{{cite web|url=http://solarquarter.com/index.php/resources/5369-https-issuu-com-solarquarter-docs-sq-mapfinal-test3|title=SolarQuarter Power100 Map | publisher=SolarQuarter}}
Aggarwal received the Jury Recognition award – Individual Excellence at the Renewable Energy India (REI) 2019 held at IEML, Greater Noida in September 2019. The auditorium where the award felicitation ceremony happened was powered by Amplus Solar's 2 MW Rooftop Solar Plant.{{Cite web|url=https://www.reiawards.com/winners|title=Winners – Renewable Energy India Awards 2019|website=reiawards.com|access-date=1 October 2019}}
Aggarwal has been chosen as one of the 100 Most Powerful Solar Business Leaders in the Indian PV Market and has also featured in the Power100 Map of year 2019 at the Solar Quarter's 3rd Edition of Powerful Solar Business Leaders.{{Cite web|url=https://www.solarquarter.com/index.php/publications/magazines/20938-solarquarter-india-power100-map-2019|title=SolarQuarter India Power100 Map 2019|last=Newsdesk|first=SolarQuarter|website=solarquarter.com|access-date=1 October 2019}}
References
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Category:Indian chief executives
Category:Businesspeople from Haryana