Vneet S. Jaain to take on role of Managing Director, Sagar R. Adani re-appointed as Executive Director
Adani Green Energy Limited has announced major changes in its top management, including the appointment of Amit Singh as the new Chief Executive Officer (CEO) and Key Managerial Personnel, effective from May 11, 2023. Vneet S. Jaain, the current Managing Director & CEO, will take on the role of Managing Director starting the same date. These changes were announced alongside the Q4 results of the company. Additionally, Sagar R. Adani has been re-appointed as an Executive Director for a period of 5 years starting August 31, 2023, subject to shareholders’ approval.
Amit Singh is a graduate of IIT Delhi with over 22 years of experience in the energy sector and extensive expertise in oilfields, energy transition, and digital advancement across multiple geographies, including Europe, the Middle East, Asia, and the Americas. Prior to joining Adani Green Energy, he served as the Director of Strategy & Marketing, Digital & Integration Division of SLB (formerly known as Schlumberger), based in London.
Adani Green Energy also reported a consolidated net profit of ₹507 crore for the quarter ended March 2023, which is a 319% increase from the same period last year. The total income for the quarter rose 88% to ₹2,988 crore. The firm’s revenue from power supply increased by 54% YoY to ₹5,825 crore in FY23. Furthermore, the company has added 2,676 MW renewable capacity to its operational fleet in FY23.
Vneet S. Jaain has been working with the Adani Group for nearly 15 years and has previously served in management positions at Adani Power Limited and Adani Infra Limited.