Rakesh Khaitan currently serves as the Head of Strategy, Finance & Asset Management at Mahindra Susten. He has been instrumental in creating a highly bankable IPP portfolio, totaling 1.65+ GWp of Solar Assets, establishing Mahindra as a leading Solar IPP player.
Rakesh has demonstrated his exceptional leadership by successfully leading and executing projects throughout the entire development cycle. He secured long-term financing of over ₹4200 crores from Indian and overseas lenders. Moreover, Rakesh orchestrated significant strategic divestments of selected IPP projects, amounting to a deal value of ₹8000 crores. Additionally, he secured two MNCs in India as JV partners in the solar portfolio for the group.
A seasoned finance professional, Rakesh possesses over 17 years of experience across diverse domains of finance, accounts, strategy, taxation, and structuring in the Renewables Industry. His prior experience spans various industries, including Retail, Media, and Manufacturing.
Rakesh joined the Mahindra Group in September 2012 as a Senior Manager at Mahindra Partners, Mahindra and Mahindra, before moving to Mahindra Susten in September 2014. During his stint with M&M, he evaluated the feasibility and profitability of various business opportunities for Mahindra Partners Division and played a crucial role as the Commercial Head for Mahindra Odyssea and Mumbai Mantra. Before joining the Mahindra Group, Rakesh spent six years with Reliance Industries, where he was deputed in the Retail division, heading commercial positions for various business formats, including Super Markets, Specialty Stores, and Fine Jewellery stores. His primary responsibilities included budgeting, cash flow management, inventory management, and vendor negotiation.
Recognizing his outstanding contributions to the renewable energy sector, Rakesh has received the prestigious "SolarQuarter 40under40 - Indian Solar Pioneers" award from Solar Quarter. He has also been awarded as "RE Leaders of Tomorrow in Top 40 under 40 for Year 2022" by EQ International.
With an extensive renewable industry experience of 10 years, Rakesh envisions a future where renewable energy becomes the most important source of electricity production, positively impacting the environment and addressing climate change.
Rakesh is a Fellow Chartered Accountant from ICAI. He completed his Bachelor of Commerce (Hons.) from Calcutta University and is an alumnus of St. Xavier's College, Kolkata.