The renewable power sector is a sunrise sector right now,” says Ravi Seth, chief financial officer (CFO), ReNew Power Ventures Private Limited. He adds further, “The sector is continuously evolving and there is ample opportunity for all players to contribute to its growth.” Seth has almost three decades of experience across various industries including food, pharmaceuticals, tobacco, real estate and media. His current role as CFO at ReNew Power Ventures marks Seth’s foray into the infrastructure sector.
According to him, the investment required for setting up a project is what differentiates the renewable power sector from the other sectors that he has worked in. “For every GW of capacity, billions of dollars of investment is needed,” exclaims Seth. He feels that over the last three years, the investor community has started understanding the working of the renewable energy sector better, which has led to an increased flow of domestic capital in the sector, but a lot more is needed. Seth says, “New pools of capital need to be tapped into, since banks alone will not be able to provide the $150 billion investment required for the target of 175 GW by 2022 set by the government.”
Seth started his career with ITC Limited as an assistant manager in 1985, soon after completing his FCA from the Institute of Chartered Accountants of India. He rose up the ladder to become vice-president, commercial-development business, ITC, and subsequently, worked with HT Media Limited, Abbot India Limited, Strides Arcolab Limited and the India Hospitality Corporation He recalls his role as CEO, International Operations, Strides Arcolabas, as a memorable experience. “When I was handling operations, I had to understand the regulatory environment which varied from one country to another and the market behaviour across locations like Latin America, Europe and the US. It was a great learning experience and extremely enjoyable.”
He describes his management style as participative and democratic, with a focus on delivery. He likes to keep an informal relationship with his team members.
Seth enjoys watching plays, especially ones with a small theatre setting of 100-150 people. He also likes to play tennis and golf. For maintaining a healthy work-life balance, he visits the gym regularly. Seth is also an adventurous motorcyclist and plans to tour Latin America and Europe on his bike two-three years down the line.