India’s renewable energy sector faces leadership talent crisis amidst unprecedented growth – A WalkWater Talent Advisors study – EQ
In Short : India’s renewable energy sector is experiencing a leadership talent crisis, even as the industry undergoes unprecedented growth, according to a study by WalkWater Talent Advisors. The rapid expansion of the sector has outpaced the availability of skilled leaders, creating challenges for companies seeking to drive innovation and sustain growth. This talent gap could impact the sector’s long-term success and development.
In Detail : 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 organizations 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 from the study include:
• 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-utilized 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 of WalkWater Talent Advisors, stated, “India’s renewable energy sector is experiencing an unprecedented boom, with organizations 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 capitalize 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”.
Based on WalkWater’s experience and discussions with industry leaders, the team has created a talent grid map with recommendations for considering talent from allied industries into the renewable sector.
Vidya Venkataramani, Senior Consultant at WalkWater Talent Advisors, added, “Our study underscores a significant talent shortage in specialized 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, organizations 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.”
