A study reveals a leadership talent crisis in India’s renewable energy sector, driven by limited hiring practices and rapid expansion, risking future growth and market potential.
India’s rapidly growing renewable energy sector is facing a significant leadership talent crisis, as a preference for hiring individuals with prior experience in the field is limiting the influx of fresh ideas and perspectives. This was revealed by a recent study conducted by WalkWater Talent Advisors, an executive search firm.
The firm surveyed 65 organisations and tracked the movement of 204 CXOs over the past three years. The findings highlight a stark shortage of leadership talent, exacerbated by the sector’s rapid expansion and the increasing complexity of renewable energy projects.
The study shows that the renewable energy sector has seen a high number of CXO-level appointments since 2021. Of these, 56 percent have been Chief Operating Officers (COOs), 47 percent Chief Financial Officers (CFOs), and 45% Chief Business Development Officers (CBDOs). This reflects the sector’s growing demand for strategic leadership to navigate its expansion.
Kunal Girap, Co-Founder and Director of WalkWater Talent Advisors, emphasised the urgency of the situation, saying, “The renewable energy sector is experiencing an unprecedented boom, with organisations witnessing a surge in orders that is driving rapid growth, However, the talent pool, particularly at the leadership level, has not kept pace with this growth. This mismatch threatens the sector’s ability to fully capitalise on the market’s potential.”
Girap noted that the study highlights a critical shortage of leadership and underscores the need for a more inclusive approach to talent acquisition. “It is essential for the industry to consider candidates from other sectors and invest in targeted leadership development programs,” he added.
Vidya Venkataramani, Senior Consultant at WalkWater Talent Advisors, said, “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.”
According to the study, talent shortages in niche roles such as land acquisition, design engineering, and policy and regulation are becoming significant bottlenecks for the renewable energy industry. These roles are crucial for the successful development and implementation of renewable energy projects, which often face challenges related to regulatory complexities, land unavailability, and grid connectivity.
The study further pointed out that organisations are not considering talent from allied industries and are hesitant to experiment with new talent due to the urgent need to meet market demands. “This narrow approach further limits the talent pool and the scarcity of skilled professionals poses a major challenge to sustaining long-term success and effectively managing the increased workload,” the study noted.
As India’s renewable energy sector continues to expand, the findings suggest that a shift towards a broader and more diversified talent strategy will be critical for overcoming the current leadership shortage and ensuring the sector’s continued growth and success.
Source: Energetica