Thames Water appoints Tony Vasishta as CEO of its newly formed renewable energy business
Thames Water has appointed Tony Vasishta as CEO of Ventures, its new renewable energy business unit. The new appointment aims to underpin the company's net zero target for 2030.
LONDON, England, June 10, 2021 (PRESS RELEASE) -- Thames Water has appointed a new Director to its Executive team to expand its renewable energy business and open-up more green spaces for customers to enjoy across London and the Thames Valley.
Tony Vasishta (pictured) will start on July 6 as CEO of Ventures, a new business unit that will unlock further benefits to its customers, communities, and the environment.
Opportunities include solar power, energy storage, harnessing the heat from the waste network to provide clean energy, driving value from the estate and creating new outdoor public spaces, like the award-winning Walthamstow Wetlands in East London.
The appointment follows the recent recruitment of Alastair Cochran as CFO, Warren Buckley as Retail Director, Cathryn Ross into a newly-created Strategy and Regulatory Affairs Director position and Francis Paonessa as Capital Delivery Director as Thames Water continues to build a strong leadership team to transform service for today's customers and future generations.
Sarah Bentley, Thames Water CEO, said: "Thames Water is already the largest producer of renewable energy within the water industry and we have some very exciting opportunities to grow this business in the coming years, helping us achieve net zero by 2030.
"I'm delighted Tony Vasishta will be joining the Executive team to grow our renewable energy and property ventures, and open up new green spaces for our customers to enjoy. He has a successful track record of starting, creating and growing businesses from inception to maturity. His extensive track record and experience are just what we need as we look to develop our Ventures business and provide our customers with self-generated clean, green energy."
Poo power, together with wind and solar, currently generates around a quarter of the company's electricity needs, saving around £40 million in energy costs each year. The company is due to announce its roadmap to achieve net zero carbon emissions by 2030 in the summer.
Tony Vasishta said: "I'm very excited to be joining Thames Water as its new Ventures Director. The opportunities the company has to grow this business are considerable, especially in the area of renewable energy. I look forward to joining a team that will play an important role in achieving the company's net zero ambitions and creating new green spaces for our customers to enjoy."
Tony joins from Liberty Global, the world's largest international TV and broadband company, where he was managing director of Global Real Estate and Facilities and the CEO of Liberty Property - its wholly owned real estate vehicle. He joined Liberty Global from Starbucks, where he led the real estate and asset management function for the Europe, Middle East and Africa region.
Having held senior roles at Tesco, Boots, Circle Health, TJX and Woolworths, Tony has extensive property and commercial experience, both domestically and internationally across a variety of asset classes.