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Renewables champion becomes EBRD energy boss

Nandita Parshad will be responsible for investing €2bn a year, about a quarter of the bank’s annual activity.

The European Bank for Reconstruction and Development has promoted Nandita Parshad to the role of managing director of its energy and natural resources operations.

The appointment comes after Riccardo Puliti was hired by the World Bank to head its energy and extractive resources unit in November. Parshad started in her new job on 1 January.

The EBRD’s energy and natural resources team, which has more than 90 staff, invests about €2 billion a year and manages a portfolio of over €10 billion.

Parshad arrives with a serious renewables pedigree: as its director of power and energy from February 2007, she oversaw the deployment of more than €5 billion in about 4.5GW of renewables capacity, a move the EBRD says allows its portfolio to generate more electricity from clean energy than conventional fuels.

Projects she looked after have included wind farms in Mongolia and a solar plant in Jordan. Before joining the EBRD in 1992, Parshad worked for the World Bank in New Delhi and Washington DC.