A recent study by WalkWater Talent Advisors, one of India’s leading executive search firms, has revealed a significant leadership talent crisis within the country’s booming renewable energy sector. As India pushes to increase its non-fossil energy production capacity to 500 GW by 2030 under the Panchamrit plan, and aims for net-zero emissions by 2070, the shortage of skilled professionals in leadership roles presents a formidable obstacle.
The study, which surveyed 65 organisations and tracked the movement of 204 CXOs over the past three years, highlights the growing complexities and demands of renewable energy projects. The findings point to a stark shortage of leadership talent, particularly in key roles necessary for steering the sector through its unprecedented expansion.
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Since 2021, the renewable energy industry has seen a surge in leadership hires, with 56 percent of these being Chief Operating Officers (COOs), followed by Chief Financial Officers (CFOs) at 47 percent, and Chief Business Development Officers (CBDOs) at 45 percent. However, the study also identifies a strong preference for candidates with prior renewable energy experience, which is limiting the inflow of fresh ideas and perspectives from other sectors.
The movement of top executives from allied industries into renewable energy roles remains limited. Only 7 percent of Chief Executive Officers (CEOs), 12 percent of COOs, and 14 percent of CBDOs have transitioned from related industries, indicating an under-utilised potential for talent acquisition from these sectors. In contrast, the CFO role exhibited a higher rate of cross-sector movement at 42 percent, suggesting that financial leadership roles may be more adaptable to the renewable energy landscape.
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The report underscores the urgent need for the renewable energy sector to broaden its talent acquisition strategies to include leaders from allied industries. By doing so, the sector could benefit from diverse perspectives and innovative approaches, essential for navigating the challenges of achieving India’s ambitious energy goals.
As the renewable energy sector continues to grow, addressing this leadership talent gap will be crucial for ensuring the successful implementation of projects and meeting the nation’s targets for sustainable energy and emissions reduction.
