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| education = PGDM
| education = PGDM
| alma_mater = [[IIM Ahmedabad]]; [[Jamia Millia Islamia]]
| alma_mater = [[IIM Ahmedabad]]; [[Jamia Millia Islamia]]
| occupation = Chairman & CEO of Amplus Solar
| occupation = Chairman & Former CEO of Amplus Solar
}}
}}
'''Sanjeev Aggarwal''' (born 1970<ref name=mint1/>) is an Indian businessman. He is the founder of energy company Amplus Solar, acquired 100%<ref name=FinancialExpress/> in 2019 by [[PETRONAS]] for US$391 million (about ₹2700 Crore),<ref name=IndiaInc./> for which he serves as CEO. He received the [[Federation of Indian Chambers of Commerce and Industry]] young leaders award in 2013.
'''Sanjeev Aggarwal''' (born 1970<ref name=mint1/>) is an Indian businessman. He is the founder of energy company Amplus Solar, acquired 100%<ref name=FinancialExpress/> in 2019 by [[PETRONAS]] for US$391 million,<ref name=IndiaInc./> for which he was the former CEO. He exited Amplus in 2022 and founded Renewable Energy and Decarbonization platform Hexa Climate <ref name=Livemint>{{cite web|title= Amplus founder, I Squared Capital set up Hexa Climate Solutions|url=https://www.livemint.com/industry/energy/amplus-pe-fund-set-up-hexa-climate-solutions-11698599378952.html}}</ref> in 2023. As in May 2024, he is acting as the Executive Chairman at Hexa Climate. Hexa's group firms are present in over seven countries, including Japan, Malaysia, Taiwan, South Korea, Singapore, Philippines, and now in India. Sanjeev also received the [[Federation of Indian Chambers of Commerce and Industry]] young leaders award in 2013.


== Personal life and education ==
== Personal life and education ==
Aggarwal studied mechanical engineering from [[Jamia Millia Islamia]], New Delhi.<ref name=linkdin>{{cite web|title= Sanjeev Aggarwal| url=https://www.linkedin.com/in/sanjeevaggarwal?originalSubdomain=in}}</ref> He holds a Postgraduate Diploma in Management (PGDM, equivalent to MBA) from [[Indian Institute of Management, Ahmedabad]].<ref name=Bloomberg>{{cite web|title=Sanjeev Aggarwal: Executive Profile & Biography – Bloomberg|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=235053618&privcapId=309875616|publisher=Bloomberg L.P.|accessdate=16 December 2017}}</ref>
Aggarwal studied mechanical engineering from [[Jamia Millia Islamia]], New Delhi.<ref name=linkdin>{{cite web|title= Sanjeev Aggarwal| url=https://www.linkedin.com/in/sanjeevaggarwal?originalSubdomain=in}}</ref> He holds a Postgraduate Diploma in Management (PGDM, equivalent to MBA) from [[Indian Institute of Management, Ahmedabad]].<ref name=Bloomberg>{{cite web|title=Sanjeev Aggarwal: Executive Profile & Biography – Bloomberg|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=235053618&privcapId=309875616|publisher=Bloomberg L.P.|accessdate=16 December 2017}}</ref>


Aggarwal resides in [[Gurgaon, India]],<ref>{{Cite web|title=Sanjeev Agarwal, Gitanjali Exports Corp Ltd: Profile and Biography|url=https://www.bloomberg.com/profile/person/17399140|access-date=2021-05-12|website=Bloomberg.com|language=en}}</ref>{{failed verification|date=May 2021}} where Amplus Energy Solutions is headquartered.<ref>{{cite news|last1=Dutta|first1=Sanjay|title=India solar tariff drops below cost of coal-fired power|url=https://timesofindia.indiatimes.com/india/india-solar-tariff-drops-below-cost-of-coal-fired-power/articleshow/58602690.cms|accessdate=26 January 2018|work=[[The Times of India]]|date=10 May 2017}}</ref>
Aggarwal resides in [[Gurgaon, India]],<ref>{{Cite web|title=Sanjeev Agarwal, Gitanjali Exports Corp Ltd: Profile and Biography|url=https://www.bloomberg.com/profile/person/17399140|access-date=2021-05-12|website=Bloomberg.com|language=en}}</ref>{{failed verification|date=May 2021}} where Hexa Climate is headquartered.<ref>{{cite news|last1=Dutta|first1=Sanjay|title=India solar tariff drops below cost of coal-fired power|url=https://timesofindia.indiatimes.com/india/india-solar-tariff-drops-below-cost-of-coal-fired-power/articleshow/58602690.cms|accessdate=26 January 2018|work=[[The Times of India]]|date=10 May 2017}}</ref>


== Career ==
== Career ==
Prior to starting Amplus Energy, Aggarwal was managing director of AES India the Indian subsidiary of the US fortune 200 company [[AES Corporation]].<ref>{{cite news|last1=Yee|first1=Amy|title=AES plans $2.8bn India power plants|url=https://www.ft.com/content/25d1b23a-a9b7-11dc-aa8b-0000779fd2ac|accessdate=26 January 2018|work=[[Financial Times]]|date=14 December 2007}}</ref> At AES, Aggarwal was involved as managing director in the development of AES's bulk capacity greenfield project, a 1200 MW electricity plant with a combined captive coalmine in [[Chhattisgarh]].<ref name=Bloomberg/> After Aggarwal's departure from AES in March 2010, he tried multiple businesses which almost led him to becoming [[insolvent]],<ref name=Ken/> they included bidding for hydrocarbon blocks (no blocks were awarded), setting up a gas plant (gas turned out to be a poor business).<ref name=mint1>{{cite news|last1=Aggarwal|first1=Mayank|last2=Bhaskar|first2=Utpal|title=Amplus Energy: cutting out the middleman|url=http://www.livemint.com/Industry/0bFZ2S95Zk4IV0Y63G4GOJ/Amplus-Energy-cutting-out-the-middleman.html|accessdate=16 December 2017|work=[[Live Mint]]|date=28 April 2017}}</ref><ref name=Ken>{{cite news|last1=Singh|first1=Seema|title=Why rooftops are the sunniest for Amplus and Cleanmax|url=https://the-ken.com/story/rooftop-solar-amplus-cleanmax/|accessdate=23 July 2020|work=[[The Ken]]|date=18 December 2017}}</ref>
Prior to starting Hexa Climate, Sanjeev was the founder, MD & CEO of green energy company Amplus Solar. Before Amplus Energy, Aggarwal worked at AES India, the Indian subsidiary of the US fortune 200 company [[AES Corporation]].<ref>{{cite news|last1=Yee|first1=Amy|title=AES plans $2.8bn India power plants|url=https://www.ft.com/content/25d1b23a-a9b7-11dc-aa8b-0000779fd2ac|accessdate=26 January 2018|work=[[Financial Times]]|date=14 December 2007}}</ref> At AES, Aggarwal was involved in the development of AES's bulk capacity greenfield project, a 1200 MW electricity plant with a combined captive coalmine in [[Chhattisgarh]].<ref name=Bloomberg/> After Aggarwal's departure from AES in March 2010, he tried multiple businesses which almost led him to becoming [[insolvent]],<ref name=Ken/> they included bidding for hydrocarbon blocks (no blocks were awarded), setting up a gas plant (gas turned out to be a poor business).<ref name=mint1>{{cite news|last1=Aggarwal|first1=Mayank|last2=Bhaskar|first2=Utpal|title=Amplus Energy: cutting out the middleman|url=http://www.livemint.com/Industry/0bFZ2S95Zk4IV0Y63G4GOJ/Amplus-Energy-cutting-out-the-middleman.html|accessdate=16 December 2017|work=[[Live Mint]]|date=28 April 2017}}</ref><ref name=Ken>{{cite news|last1=Singh|first1=Seema|title=Why rooftops are the sunniest for Amplus and Cleanmax|url=https://the-ken.com/story/rooftop-solar-amplus-cleanmax/|accessdate=23 July 2020|work=[[The Ken]]|date=18 December 2017}}</ref>


Aggarwal started Amplus Energy Solutions in 2010, got the first solar rooftop contract in 2013 and raised {{INRConvert|2|c|year=2014}} from family and friends.<ref name=mint1/> In 2015 he secured an investment of US$150&nbsp;million (about {{₹|900}} [[crore]]) in equity funding from I Squared Capital.<ref name=mint1/> {{as of|2017}}, Amplus is one of the largest companies in the OPEX project development space according to Bridge To India, a consultancy and knowledge services provider specialising in renewable energy.<ref>{{cite news|title=Bridge to India cuts rooftop solar forecast to 10.8 GW by 2021|url=https://economictimes.indiatimes.com/industry/energy/power/bridge-to-india-cuts-rooftop-solar-forecast-to-10-8-gw-by-2021/articleshow/61918332.cms|accessdate=26 January 2018|work=[[The Economic Times]]|date=4 December 2017}}</ref> In 2019, Amplus was acquired 100%<ref name=FinancialExpress>{{cite news|title=Malaysia’s Petronas acquires Singapore-based Amplus Energy|url=https://www.financialexpress.com/industry/malaysias-petronas-acquires-singapore-based-amplus-energy/1549103/|accessdate=24 July 2020|work=[[The Financial Express (India)]]|date=16 April 2019}}</ref> by the Malaysian government's oil and gas company, [[PETRONAS]], for US$391 million (about ₹2700 Crore); Aggarwal continued to serve as CEO.<ref name=IndiaInc.>{{cite news|title=Malaysia’s Petronas buys Amplus Energy|url=https://indiaincgroup.com/malaysias-petronas-buys-amplus-energy-india-global-business/|accessdate=23 July 2020|work=[[India Inc.]]|date=16 April 2019}}</ref> Aggarwal and his company have been the subject of a case study by [[Indian Institute of Management, Ahmedabad]].<ref>{{cite thesis|last1=Medicherla|first1=Kiran|last2=Agarawal|first2=Shrey|last3=Jamar|first3=Arushi|last4=Garg|first4=Amit|title=Amplus Solar - The Sky is the Limit|url=https://cases.iima.ac.in/index.php/amplus-solar-the-sky-is-the-limit.html|accessdate=24 July 2020|publisher=[[Indian Institute of Management, Ahmedabad]]|date=28 March 2018}}</ref>
Aggarwal started Amplus Energy Solutions in 2010, got the first solar rooftop contract in 2013 and raised {{₹|3.2}} crore (equivalent to US$400,000 in 2023) from family and friends.<ref name=mint1/> In 2015 he secured an investment of US$150&nbsp;million in equity funding from I Squared Capital, an American investing company.<ref name=mint1/> {{as of|2017}}, Amplus is one of the largest companies in the OPEX project development space according to Bridge To India, a consultancy and knowledge services provider specialising in renewable energy.<ref>{{cite news|title=Bridge to India cuts rooftop solar forecast to 10.8 GW by 2021|url=https://economictimes.indiatimes.com/industry/energy/power/bridge-to-india-cuts-rooftop-solar-forecast-to-10-8-gw-by-2021/articleshow/61918332.cms|accessdate=26 January 2018|work=[[The Economic Times]]|date=4 December 2017}}</ref> In 2019, Amplus was acquired 100%<ref name=FinancialExpress>{{cite news|title=Malaysia’s Petronas acquires Singapore-based Amplus Energy|url=https://www.financialexpress.com/industry/malaysias-petronas-acquires-singapore-based-amplus-energy/1549103/|accessdate=24 July 2020|work=[[The Financial Express (India)]]|date=16 April 2019}}</ref> by the Malaysian government's oil and gas company, [[PETRONAS]], for US$391 million (about ₹2700 Crore); Aggarwal continued as CEO.<ref name=IndiaInc.>{{cite news|title=Malaysia’s Petronas buys Amplus Energy|url=https://indiaincgroup.com/malaysias-petronas-buys-amplus-energy-india-global-business/|accessdate=23 July 2020|work=[[India Inc.]]|date=16 April 2019}}</ref> Aggarwal and his company have been the subject of a case study by [[Indian Institute of Management, Ahmedabad]].<ref>{{cite thesis|last1=Medicherla|first1=Kiran|last2=Agarawal|first2=Shrey|last3=Jamar|first3=Arushi|last4=Garg|first4=Amit|title=Amplus Solar - The Sky is the Limit|url=https://cases.iima.ac.in/index.php/amplus-solar-the-sky-is-the-limit.html|accessdate=24 July 2020|publisher=[[Indian Institute of Management, Ahmedabad]]|date=28 March 2018}}</ref>


Aggarwal writes articles on various industry blogs and newspapers such as [[LiveMint]]<ref>{{cite news|last1=Aggarwal|first1=Sanjeev|title=Decontrol the power sector|url=http://www.livemint.com/Opinion/5RbKsXd1wlAAqbachUDDVN/Decontrol-the-power-sector.html|accessdate=26 January 2018|work=[[Livemint]]|date=12 August 2012}}</ref> and [[VCCircle]]{{'s}} Infracircle.<ref>{{cite web|title=Sanjeev Aggarwal's articles on Infracircle|url=http://www.infracircle.in/author/sanjeevaggarwal/|website=Infracircle|accessdate=26 January 2018}}</ref> He also serves in various industry committees as an industry expert, including on the Infrastructure Power Committee of the American Chamber of Commerce in India (AmCham India), India Electricity 2009 Advisory Council, and the [[Federation of Indian Chambers of Commerce and Industry]] Power Committee.<ref name=Bloomberg/>
Aggarwal writes articles on various industry blogs and newspapers such as [[LiveMint]]<ref>{{cite news|last1=Aggarwal|first1=Sanjeev|title=Decontrol the power sector|url=http://www.livemint.com/Opinion/5RbKsXd1wlAAqbachUDDVN/Decontrol-the-power-sector.html|accessdate=26 January 2018|work=[[Livemint]]|date=12 August 2012}}</ref> and [[VCCircle]]{{'s}} Infracircle.<ref>{{cite web|title=Sanjeev Aggarwal's articles on Infracircle|url=https://www.vccircle.com/company/hexa-climate-solutions/|website=Infracircle|accessdate=26 January 2018}}</ref> He is on various industry committees, including on the Infrastructure Power Committee of the American Chamber of Commerce in India (AmCham India), India Electricity 2009 Advisory Council, and the [[Federation of Indian Chambers of Commerce and Industry]] Power Committee.<ref name=Bloomberg/>


== Awards and recognition ==
== Awards and recognition ==

Latest revision as of 09:49, 28 September 2024

Sanjeev Aggarwal
Born1970 (age 53–54)
NationalityIndian
EducationPGDM
Alma materIIM Ahmedabad; Jamia Millia Islamia
OccupationChairman & Former CEO of Amplus Solar

Sanjeev Aggarwal (born 1970[1]) is an Indian businessman. He is the founder of energy company Amplus Solar, acquired 100%[2] in 2019 by PETRONAS for US$391 million,[3] for which he was the former CEO. He exited Amplus in 2022 and founded Renewable Energy and Decarbonization platform Hexa Climate [4] in 2023. As in May 2024, he is acting as the Executive Chairman at Hexa Climate. Hexa's group firms are present in over seven countries, including Japan, Malaysia, Taiwan, South Korea, Singapore, Philippines, and now in India. Sanjeev also received the Federation of Indian Chambers of Commerce and Industry young leaders award in 2013.

Personal life and education

[edit]

Aggarwal studied mechanical engineering from Jamia Millia Islamia, New Delhi.[5] He holds a Postgraduate Diploma in Management (PGDM, equivalent to MBA) from Indian Institute of Management, Ahmedabad.[6]

Aggarwal resides in Gurgaon, India,[7][failed verification] where Hexa Climate is headquartered.[8]

Career

[edit]

Prior to starting Hexa Climate, Sanjeev was the founder, MD & CEO of green energy company Amplus Solar. Before Amplus Energy, Aggarwal worked at AES India, the Indian subsidiary of the US fortune 200 company AES Corporation.[9] At AES, Aggarwal was involved in the development of AES's bulk capacity greenfield project, a 1200 MW electricity plant with a combined captive coalmine in Chhattisgarh.[6] After Aggarwal's departure from AES in March 2010, he tried multiple businesses which almost led him to becoming insolvent,[10] they included bidding for hydrocarbon blocks (no blocks were awarded), setting up a gas plant (gas turned out to be a poor business).[1][10]

Aggarwal started Amplus Energy Solutions in 2010, got the first solar rooftop contract in 2013 and raised ₹3.2 crore (equivalent to US$400,000 in 2023) from family and friends.[1] In 2015 he secured an investment of US$150 million in equity funding from I Squared Capital, an American investing company.[1] As of 2017, Amplus is one of the largest companies in the OPEX project development space according to Bridge To India, a consultancy and knowledge services provider specialising in renewable energy.[11] In 2019, Amplus was acquired 100%[2] by the Malaysian government's oil and gas company, PETRONAS, for US$391 million (about ₹2700 Crore); Aggarwal continued as CEO.[3] Aggarwal and his company have been the subject of a case study by Indian Institute of Management, Ahmedabad.[12]

Aggarwal writes articles on various industry blogs and newspapers such as LiveMint[13] and VCCircle's Infracircle.[14] He is on various industry committees, including on the Infrastructure Power Committee of the American Chamber of Commerce in India (AmCham India), India Electricity 2009 Advisory Council, and the Federation of Indian Chambers of Commerce and Industry Power Committee.[6]

Awards and recognition

[edit]

Aggarwal received the Federation of Indian Chambers of Commerce and Industry (FICCI) young leaders award in 2013[15] and was featured in Finance-Monthly global CEO awards in 2016.[15] In 2017 he was listed in Solar Quarter magazine's 100 most powerful leaders in the Solar Industry.[16]

Aggarwal received the Jury Recognition award – Individual Excellence at the Renewable Energy India (REI) 2019 held at IEML, Greater Noida in September 2019. The auditorium where the award felicitation ceremony happened was powered by Amplus Solar's 2 MW Rooftop Solar Plant.[17]

Aggarwal has been chosen as one of the 100 Most Powerful Solar Business Leaders in the Indian PV Market and has also featured in the Power100 Map of year 2019 at the Solar Quarter's 3rd Edition of Powerful Solar Business Leaders.[18]

References

[edit]
  1. ^ a b c d Aggarwal, Mayank; Bhaskar, Utpal (28 April 2017). "Amplus Energy: cutting out the middleman". Live Mint. Retrieved 16 December 2017.
  2. ^ a b "Malaysia's Petronas acquires Singapore-based Amplus Energy". The Financial Express (India). 16 April 2019. Retrieved 24 July 2020.
  3. ^ a b "Malaysia's Petronas buys Amplus Energy". India Inc. 16 April 2019. Retrieved 23 July 2020.
  4. ^ "Amplus founder, I Squared Capital set up Hexa Climate Solutions".
  5. ^ "Sanjeev Aggarwal".
  6. ^ a b c "Sanjeev Aggarwal: Executive Profile & Biography – Bloomberg". Bloomberg L.P. Retrieved 16 December 2017.
  7. ^ "Sanjeev Agarwal, Gitanjali Exports Corp Ltd: Profile and Biography". Bloomberg.com. Retrieved 12 May 2021.
  8. ^ Dutta, Sanjay (10 May 2017). "India solar tariff drops below cost of coal-fired power". The Times of India. Retrieved 26 January 2018.
  9. ^ Yee, Amy (14 December 2007). "AES plans $2.8bn India power plants". Financial Times. Retrieved 26 January 2018.
  10. ^ a b Singh, Seema (18 December 2017). "Why rooftops are the sunniest for Amplus and Cleanmax". The Ken. Retrieved 23 July 2020.
  11. ^ "Bridge to India cuts rooftop solar forecast to 10.8 GW by 2021". The Economic Times. 4 December 2017. Retrieved 26 January 2018.
  12. ^ Medicherla, Kiran; Agarawal, Shrey; Jamar, Arushi; Garg, Amit (28 March 2018). Amplus Solar - The Sky is the Limit (Thesis). Indian Institute of Management, Ahmedabad. Retrieved 24 July 2020.
  13. ^ Aggarwal, Sanjeev (12 August 2012). "Decontrol the power sector". Livemint. Retrieved 26 January 2018.
  14. ^ "Sanjeev Aggarwal's articles on Infracircle". Infracircle. Retrieved 26 January 2018.
  15. ^ a b "Finance Monthly global CEO awards 2016". Finance Monthly. p. 94.
  16. ^ "SolarQuarter Power100 Map". SolarQuarter.
  17. ^ "Winners – Renewable Energy India Awards 2019". reiawards.com. Retrieved 1 October 2019.
  18. ^ Newsdesk, SolarQuarter. "SolarQuarter India Power100 Map 2019". solarquarter.com. Retrieved 1 October 2019.
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