Around half a million solar power systems have been installed on the roofs of Western Australia’s homes and businesses. Soon most houses in the sun-drenched state will have photovoltaic capacity, putting it at the forefront of the country’s renewable energy revolution and helping owners and renters reduce their escalating energy bills.
As the nation continues its journey toward net zero emissions by 2050, the renewable energy boom isn’t about to peter out any time soon.
And one solar power firm in particular is stealing a march on its rivals by gaining an astonishing nine percent of the entire market of Western Australia. In doing so, it has been ranked the 55th fastest-growing company in the country by the Australian Financial Review and placed on the Financial Times’ list of the top 500 high-growth companies in the Asia–Pacific four years running.
The unparalleled recent ascent of Regen Power is testament to the disruptive leadership of one of Perth’s most driven and visionary executives, Nikhil Jayaraj.
“I am so passionate about helping more and more people reap the rewards of solar,” he tells The CEO Magazine. “The technology has advanced beyond recognition so these days, the systems pay for themselves much quicker and they’re playing a massive role in reducing climate change.”
Solar leader
Jayaraj joined Regen Power as a Sales and Marketing Specialist in 2010 and worked his way up before being appointed General Manager in 2016. It’s no coincidence that the business began to expand exponentially soon afterwards, leading to his promotion to Managing Director three years later.
“I’m very proud to have pioneered Regen Power into becoming the top retailer in Western Australia’s solar market over the last five years,” he says. “I’ve grown revenues from A$5 million [US$3.3 million] to over A$35 million [US$23.3 million] and achieved a 1,000 percent rise in net profit.”
Along the way, he became a two-time winner in the Business News 40 Under 40 WA Awards and scooped the trophy for the Best Entrepreneur in the energy category of the International Business Awards.
“I’m very proud to have pioneered Regen Power into becoming the top retailer in Western Australia’s solar market over the last five years.”
Among the secrets of his spectacular success are cutting-edge marketing, investment in research and a wholly customer-centric approach.
“We prioritize transparency and authenticity to build credibility and goodwill,” he explains. “It’s so important to do everything you can to foster trust and earn your reputation. If not for that, we would not have won ProductReview Awards four times in a row.”
Currently pursuing his doctorate at Curtin University on the topic of transitioning to solar energy storage, Jayaraj also leverages his speaking engagements at international conferences and his many published articles to raise the profile of the company, establishing opportunities for corporate collaborations and strategic alliances.
“That boosts my credibility and expands my professional network,” he says.
A bigger contribution
Aside from his success in business, Jayaraj is an active participant of the United Nations Environment Programme.
“Being an UNEP active participant and understanding their goals enhances my understanding on corporate sustainability, driving local renewable initiatives, conducting educational outreach, policy frameworks and building impactful partnerships to foster economic growth and environmental sustainability, benefiting both business and the community,” he says.
“Meanwhile, the Regen Solar Academy, a flagship program of Regen, under my leadership, is supporting upskilling and renewable energy employment opportunities in Indonesia, Malaysia, Vietnam and India and is helping us make an even bigger contribution to increasing the use of clean energy.”
In Western Australia alone, Regen Power’s more than 40,000 installations generate 800,000 units per day, which is equivalent to planting six million trees every year, or avoiding the burning of 111 million kilograms of coal and 96 million liters of oil per year.
As a member of the Smart Energy Council, he was a part of Australian Prime Minister Anthony Albanese’s trade delegation to India in 2023 to strengthen ties between the two countries, particularly in renewable energy.
Jayaraj received the Best Presenter Award at the World Renewable Energy Congress 2023 in Malaysia presenting his illuminating research on ‘Understanding Stakeholder Perspectives on the Socio-technical Factors Influencing the Adoption of Solar Energy Storage in Australia’. Subsequently, he was invited to participate in a panel discussion at the United Nations Corporate Sustainability and Environmental Rights Asia Conference in Bangkok to address renewable energy priorities and human rights.
His altruism is also evident within Regen Power. “I encourage a philanthropic culture as I know what a positive impact it can have,” he says. “It also aligns with our corporate values and long-term vision to be a force for good.”
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