Data of TeamLease Degree Apprenticeship shows that the sector as a whole (made up of solar, wind, hydro and battery storage) is estimated to create 1.7 million jobs, direct and indirect, in the next three years, as several companies look to increase its workforce. Around 30-35% of them will be direct jobs and the rest will be indirect.
However, the skills gap in the sector is 1.2 million. Only around 4.5 lakh people from the current talent pool of engineering graduates are employable.
Experts noted the need for rapid reskilling of existing talent and expanding the entry-level workforce learning talent pool.
Major players in the sector include companies like Tatas, Adani, DependenceRenew Power, Sterlite, Mahindra and JSW.
“Organizations need to start building a talent pool and focus on reskilling and learning,” said Sumit Kumar, business director, TeamLease Degree Apprenticeship. Currently, solar energy as a sub-segment has 10,000 trainees, while most other sectors have negligible numbers, Kumar said.Mahindra SolarizeMahindra group’s solar solutions brand, is looking to aggressively grow its workforce, said Hemant Sikka, president, agricultural equipment sector, Mahindra & Mahindra. “Currently, Mahindra Solarize is ranked number 3 among EPC contractors with around 150 MW of annual power. facility. We aim to remain among the top three players in the EPC segment, growing at 20-25% annually,” Sikka told ET. “We are doubling the size of our team in FY25 and preparing for aggressive growth over the next 2-3 years. We will continue to add resources to meet business and market requirements,” Sikka added.
Industry officials also said that ‘Chief Minister Surya Ghar’s free electricity scheme‘, which aims to install solar panels in 1 crore homes and provide up to 300 units of free electricity every month, along with the Cabinet’s announcement to develop 12 smart cities across India will generate a large number of new jobs.
“These initiatives are aimed at solarizing one crore rooftops that will spread to over 70 villages in Maharashtra and other regions, thereby catalysing massive economic transformation with investments and job creation on an unprecedented scale,” said Amit Paithankar, CEO of Waaree Energies.
“We are ramping up hiring at all levels to support Serentica Renewables’ goal of achieving 17GW of renewable energy by 2030, whether operational or in various stages of execution,” said Ruhie Pande, Sterlite Power group chief human resources officer.
“To address the talent gap in the industry, we are placing great emphasis on upskilling and reskilling initiatives… We also regularly collaborate with industry experts and form partnerships with top-tier B-schools for training programs. Additionally, our core focus is to actively recruit top talent from campuses to build a strong pipeline of local talent,” Pande said.
“There is a shortage of talent at all levels. The biggest gap is at the entry level because most of these new industries have to provide on-the-job training and a longer than usual learning period for new recruits,” said Mohammad Saif, Energy and Utilities Partner at HEY India. “In the middle management segment, professionals with solid experience in renewable energy are very limited,” he added.
Teamlease data shows that the growth rate of talent demand in the renewable energy sector has increased from 9.2% in 2022 to 10% in 2023 and is estimated to grow to 26% in 2027 amid the portfolio expansion by the main players.
Electronic, electrical, mechanical, artificial intelligence and data engineers are in demand for roles in manufacturing/production, infrastructure, data analyst, consulting and project management. Even consulting, including the Big Four, needs an increasing number of people in the renewable energy sector.
tata power plans to invest Rs 20,000 crore in capital expenditure in FY25. This is on top of the Rs 12,000 crore invested in FY24. Much of this will go towards accelerating the company’s renewable energy portfolio and balance transmission and distribution businesses.
“Tata Power is committed to expanding its renewable energy portfolio from 41% to 70% by 2030, supporting India’s transition to clean energy,” a company spokesperson said. Tata Power currently has about 24,000 people.
Adani Green Energy Ltd (AGEL) plans to increase its renewable energy capacity from 11.2 GW to 50 GW by 2030.
To meet the upcoming surge in labor demand, companies must be proactive in building a talent pool at all levels: linking with academic industry at the newest level and rapidly upskilling at the medium, said EY’s Saif.
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