Sumant Sinha
{{Short description|Indian businessman}}
{{COI|date=March 2025}}
{{Use Indian English|date=January 2018}}
{{Use dmy dates|date=January 2018}}
{{Infobox person
| name = Sumant Sinha
| image = Portrait_of_Sumant_Sinha.jpg
| caption =
| birth_name =
| birth_date = {{birth date and age|df=y|12 February 1965}}
| occupation = Founder, Chairman & CEO of ReNew
| networth =
| spouse = Vaishali Sinha
| children = Tarushi, Siddhant
| alma_mater = {{unbulleted list|Indian Institute of Technology, Delhi|Indian Institute of Management, Calcutta|Columbia School of International and Public Affairs}}
| website = {{URL|sumantsinha.com}}
| signature =
| parents = Yashwant Sinha, Nilima Sinha
}}
Sumant Sinha (born 12 February 1965) is an Indian businessman.{{Cite web|url=http://www.livemint.com/Leisure/LKFF9VuUtP72ZgMrtxMm5J/People-often-confuse-noise-with-aggression-Sumant-Sinha.html|title=People often confuse noise with aggression: Sumant Sinha - Livemint|website=www.livemint.com|date=2 June 2007 |access-date=2018-03-12}}{{Cite web|title=Sumant Sinha {{!}} Energy|url=https://energy.stanford.edu/people/sumant-sinha|access-date=2018-03-17|website=energy.stanford.edu|language=en}} He is the chairman and CEO of ReNew, a renewable energy company, which he founded in 2011.{{Cite news|last=Mukul|first=Jyoti|date=2019-10-31|title=ReNew Power becomes 11th firm globally to reach 5,000-Mw green capacity|work=Business Standard India|url=https://www.business-standard.com/article/companies/renew-power-becomes-11th-firm-globally-to-reach-5-000-mw-green-capacity-119103101428_1.html|access-date=2020-08-18}}
Early life and education
Sumant Sinha was born in New Delhi as the son of Yashwant Sinha, a former Minister of Finance, and Nilima Sinha.{{Cite web|url=http://www.rediff.com/money/2002/may/27sumant.htm|title=rediff.com: Meet Sinha Jr: Managing finance runs in the blood|website=www.rediff.com|access-date=2018-03-12}}{{Cite web |last=Choudhury |first=Srishty |title=Meet ex-employee of Ratan Tata firm, IIT-IIM grad, who founded Rs 19500 crore giant, first Indian company... |url=https://www.dnaindia.com/business/report-meet-ex-employee-of-ratan-tata-firm-sumant-sinha-iit-iim-grad-who-founded-rs-19500-crore-renew-3077057 |access-date=2025-02-20 |website=DNA India |language=en}}
He completed his schooling from St. Columba's School, Delhi and his graduation in engineering from the Indian Institute of Technology, Delhi, in 1987. Later, in 1989, he earned a post graduate diploma in business management from the Indian Institute of Management, Calcutta. Thereafter he spent two years working with Tata Administrative Services. In 1991, Sinha went to New York to pursue a Master's in International Affairs from Columbia University.{{Cite web|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=47275479&privcapId=209953775&previousCapId=114261492&previousTitle=High%20Street%20Capital%20Private%20Limited|title=Sumant Sinha: Executive Profile & Biography | publisher=Bloomberg|access-date=2018-03-12}}{{cite news |title=Sumant Sinha, chairman and managing director, ReNew Power Limited |url=https://economictimes.indiatimes.com/corporate-excellence-award/jury/sumant-sinha/articleshow/66811286.cms?from=mdr |access-date=25 October 2018 |publisher=The Economic Times}}
Career
Sumant Sinha started his career with a two-year stint at Tata Administrative Services in 1989. Thereafter, Sinha worked as an investment banker at Citicorp Securities and ING Barings in the US and the UK.{{cite news |title=Sumant Sinha |url=https://economictimes.indiatimes.com/corporate-excellence-award/jury/sumant-sinha/articleshow/66811286.cms?from=mdr |access-date=25 October 2018 |publisher=The Economic Times}} He returned to India in 2002 and became the Chief Financial Officer at the Aditya Birla Group. It was during his time as the CFO that Aditya Birla Group acquired Ultratech Cement, Novelis, and Idea Cellular.{{Cite news |date=2011-04-21 |title=Sumant Sinha starts own firm {{!}} Latest News & Updates at Daily News & Analysis |url=http://www.dnaindia.com/money/report-sumant-sinha-starts-own-firm-1534228 |access-date=2018-03-17 |work=dna |language=en-US}} He led the creation of Aditya Birla Group's retail arm, Aditya Birla Retail Limited, where he served as chief executive officer from 2007 to 2008. Later, in 2008, he joined Suzlon Energy, one of India's largest wind energy companies at the time, as Chief Operations Officer.{{Cite news|title=Why Sumant Sinha chose clean energy over politics|work=Rediff|url=http://www.rediff.com/money/report/why-sumant-sinha-chose-clean-energy-over-politics/20170222.htm|access-date=2018-03-17}}
In 2011, he founded ReNew, an independent renewable power producer, headquartered in Gurugram.{{Cite news|last=Malik|first=Aman|date=2014-04-18|title=The business interests of Jayant Sinha|work=Livemint|url=http://www.livemint.com/Specials/Xea68J05Dd1hJPAgefwBLJ/The-business-interests-of-Jayant-Sinha.html|access-date=2018-03-17}}
Sinha has served on the boards of IIT Delhi, IIM Calcutta and the Columbia University's School of International and Public Affairs (SIPA). Apart from this, he chairs the Global Wind Energy Council (GWEC) in India and is a member of the Board of GWEC globally. He is member of the Board of US-India Strategic Partnership Forum. During 2022–23, he served as the President of Associated Chambers of Commerce and Industry of India (ASSOCHAM). He is a member of the stewardship board of Shaping the Future of Energy.{{Cite web |title=Sumant Sinha |url=https://www.climateandcapitalmedia.com/people-directory/sumant-sinha/ |access-date=2025-03-01 |website=Climate and Capital Media |language=en}} He co-chaired the Electricity Governor's Group at the World Economic Forum. He is a founding member of the First Movers Coalition and co-chairs the CEO Climate Leaders Alliance India. In 2018, The Economic Times named him as ET Entrepreneur of The Year.{{Cite news|date=2018-09-07|title=ET Awards 2018 for Entrepreneur of the Year: Sumant Sinha, Chairman & MD, ReNew Power Ventures|work=The Economic Times|url=https://economictimes.indiatimes.com/news/company/corporate-trends/et-awards-2018-for-entrepreneur-of-the-year-sumant-sinha-chairman-md-renew-power-ventures/articleshow/65714224.cms|access-date=2018-10-24}} He is the Chair of Board of Trustees of the Rocky Mountain Institute.{{Cite web |title=RMI Announces Appointment of New Board Trustees, Chair, and Co-chair |url=https://rmi.org/press-release/rmi-announces-appointment-of-new-board-trustees-chair-and-co-chair/ |access-date=2025-03-01 |website=RMI |language=en-US}}
He was the Chairman of Confederation of Indian Industry of the Northern Region.{{Cite web |last=Service |first=Statesman News |date=2017-03-24 |title=Sinha is CII's northern region chairman |url=https://www.thestatesman.com/cities/sinha-is-cii-s-northern-region-chairman-1490357317.html |access-date=2025-03-01 |website=The Statesman |language=en}} He was also the Chairman of Special Task Force on Solar,{{Cite web |title="ISA Trillion Dollar Opportunity to serve Humanity" Shri Piyush Goyal |url=https://pib.gov.in/newsite/PrintRelease.aspx?relid=139091 |archive-url=http://web.archive.org/web/20221104124314/https://pib.gov.in/newsite/PrintRelease.aspx?relid=139091 |archive-date=2022-11-04 |access-date=2025-03-01 |website=pib.gov.in}} Renewable Energy Council,{{Cite web |title=Renewable Energy - CII Initiatives |url=https://www.cii.in/PolicyAdvocacyDetails.aspx?enc=4uzNCebg9WkLN/3VfRfVhoHnpOjgUeaTIVSBeQ8tuzWd2WLW1BdRIoS25FEV2jBixSJkpv2YkX/imQGIUQSb5g== |access-date=2025-03-01 |website=www.cii.in}} and Climate Change Council.{{Cite web |title=Sumant Sinha |url=https://usispf.org/team/sumant-sinha/ |access-date=2025-03-01 |website=US-India Strategic Partnership Forum |language=en-US}}
In 2024, he was appointed as the co-chair of World Economic Forum's Alliance of CEO Climate Leaders.
ReNew
Sinha set up ReNew in 2011 with a plan to have at least 1,000 MW of capacity by 2015.{{Cite web|url=http://www.forbesindia.com/article/leadership-awards-2017/renew-power-ventures-impressing-investors-with-outstanding-performance/48697/1|title=ReNew Power Ventures: Impressing investors with outstanding performance {{!}} Forbes India|website=Forbes India|language=en-US|access-date=2018-03-17}} Its first project, a 25.2 MW wind power site in Jasdan, Gujarat, was inaugurated by Narendra Modi.{{Cite web |date=2012-05-06 |title=State government desires to maximize the usage of all means of non-conventional energy sources: CM |url=https://www.narendramodi.in/state-government-desires-to-maximize-the-usage-of-all-means-of-non-conventional-energy-sources-cm-4470}} In March 2014, ReNew won its first solar power bid, a 57.6MW project in Madhya Pradesh. He led ReNew, going from zero to 5,800 MW of commissioned capacity in six years, making it one of India's largest independent renewable energy producers.{{Cite news|url=http://www.dnaindia.com/money/report-post-suzlon-sumant-sinha-gets-goldman-cash-to-reap-the-wind-1591996|title=Post Suzlon, Sumant Sinha gets Goldman cash to reap the wind {{!}} Latest News & Updates at Daily News & Analysis|date=2011-09-27|work=dna|access-date=2018-03-17|language=en-US}}{{Cite news|url=http://www.business-standard.com/article/opinion/lunch-with-bs-sumant-sinha-111122000075_1.html|title=Lunch with BS: Sumant Sinha|last=Barman|first=Arijit|date=2011-12-20|work=Business Standard India|access-date=2018-03-17}}
In May 2024, ReNew created a clean energy portfolio of 15.6 GW.{{Cite web |last=www.ETEnergyworld.com |title=ReNew signs 2.2 GW PPAs, expands portfolio to 15.6 GW - ET EnergyWorld |url=https://energy.economictimes.indiatimes.com/news/renewable/renew-signs-2-2-gw-ppas-expands-portfolio-to-15-6-gw/109994324 |access-date=2025-02-21 |website=ETEnergyworld.com |language=en}} The Sumant Sinha ReNew Centre of Excellence for Energy and Environment in IIT Delhi was established in 2016 to encourage and support research in renewable science and technology.{{Cite web|url=http://www.iitd.ac.in/content/renew-power|title=ReNew Power {{!}} Indian Institute of Technology Delhi|website=www.iitd.ac.in|language=en|access-date=2018-03-17}}{{Cite web |date=2023-02-13 |title=ReNew unveils new brand identity as it reinforces leadership in providing decarbonisation solutions |url=https://finance.yahoo.com/news/renew-unveils-brand-identity-reinforces-165600210.html |access-date=2024-01-22 |website=Yahoo Finance |language=en-US}}
Family
Sinha is married to Vaishali Nigam Sinha.{{Cite news|last=Kalesh|first=Baiju|date=2014-04-05|title=Vaishali Nigam Sinha's journey from i-Banking to iCharity|work=The Economic Times|url=https://economictimes.indiatimes.com/small-biz/entrepreneurship/vaishali-nigam-sinhas-journey-from-i-banking-to-icharity/articleshow/33255131.cms?intenttarget=no|access-date=2018-03-12}} They have two children.
References
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Category:Businesspeople from Bihar
Category:Indian chief executives
Category:School of International and Public Affairs, Columbia University alumni
Category:People associated with wind power
Category:Businesspeople from Haryana