India’s renewable energy sector faces leadership talent crisis: WalkWater

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India’s renewable energy sector faces leadership talent crisis: WalkWater

India’s renewable energy sector faces leadership talent crisis: WalkWater

Industry News
Aug 30,24

The study surveyed 65 organisations and tracked the movement of 204 CXOs over the past three years.

India’s renewable energy sector faces leadership talent crisis: WalkWater

WalkWater Talent Advisors, one of India’s leading executive search firms, today unveiled a study highlighting a significant leadership talent crisis within India's rapidly growing renewable energy sector. India’s ambitious goal of increasing non-fossil energy production capacity to 500 GW by 2030, as part of the Panchamrit plan, and achieving net-zero emissions by 2070, faces a significant challenge: the current gap between the demand for and supply of skilled professionals.

The study surveyed 65 organisations and tracked the movement of 204 CXOs over the past three years. The findings reveal a stark shortage of leadership talent, further underscored by the sector's rapid expansion and increasing complexities of renewable energy projects.

Key findings:

• The renewable energy industry has onboarded high number of CXOs since 2021. 56% of leadership hires have been COOs, followed by CFOs at 47% and CBDOs at 45%

• A strong preference for talent with prior renewable energy experience is limiting the inflow of fresh ideas and perspectives

• It has been observed that CEOs (7%), COOs (12%) and CBDOs (14%) have seen very less movement from allied industries, highlighting the under-utilised potential for talent acquisition from related industries

• However, CFO roles exhibited a higher rate of cross-sector movement at 42%.

Kunal Girap, Co-Founder and Director, WalkWater Talent Advisors, stated, "India's renewable energy sector is experiencing an unprecedented boom, with organisations experiencing a surge in orders that are fueling rapid expansion. However, the talent pool, particularly in leadership, has not kept pace with this growth. This mismatch threatens the sector’s capacity to capitalise on the market’s potential. Our study highlights the critical leadership shortage and its implications for the sector's future. To sustain growth and achieve Panchamrit goals, it is essential for the industry to adopt a more inclusive approach to talent acquisition, considering candidates from cross - sector and investing in targeted leadership development programs”.

Industry	Renewable Industry Role	Potential Industry	Required Skills
Solar, Wind	Project Management	Construction, Real Estate	Project Planning & Execution, Vendor Management, Budget & Resource Planning, Risk Assessment
Solar, Wind, Green Hydrogen	Business Development	Petroleum & Natural Gas, Power, Chemicals	Sales & Negotiations, Bid Management, Strategic Partnerships
Solar, Wind, Green Hydrogen	Regulatory	Automotive, Power	Environmental Regulations, Policy Advocacy, Compliance with Industry Standards
Solar, Wind	Land Acquisition	Real Estate	Real Estate Transactions, Negotiation Skills, Legal Knowledge
Solar, Wind, Green Hydrogen	Design Engineering	Oil & Gas, Aerospace	Technical Expertise (Mech, Elect, Civil), System design & Implementation, Design Software
Green Hydrogen	Manufacturing	Chemicals, Fertilisers	Advance Manufacturing Technology, Supply Chain & Logistics

Vidya Venkataramani, Senior Consultant, WalkWater Talent Advisors, added, "Our study underscores a significant talent shortage in specialised roles such as project management, business development, and regulatory affairs within India’s renewable energy sector. This shortage is intensified by the sector's rapid growth and increasing project complexities. To address this challenge, organisations must expand their talent acquisition strategies to include professionals from allied industries and invest in targeted skill-building and leadership initiatives. Such measures will not only address the current talent gap but also build a new cadre of leaders poised to drive sustainable innovation and growth in this critical sector."